(Original Title: Larry Page steps down as Alphabet CEO, Sundar Pichai to lead both Alphabet and Google)

Figure: Google CEO Sandal Pichai will take over as CEO of Alphabet

Netease Technology News on December 4, according to foreign media reports, on Tuesday, local time in the United States, Google co-founder Larry Page (Larry Page) announced that he will resign as the CEO of Alphabet. Google CEO Sundar Pichai will take over as CEO of the parent company.

Google co-founders Larry Page (left) and Sergey Brin (right)

At the same time, Google co-founder Sergey Brin will also step down as president of Alphabet, and the position will be cancelled. A few hours after the decision was released, Alphabet shares rose 0.42%.

Page and Brin wrote in a blog post announcing the above decision: "Alphabet now has a firm foothold, and Google and other bets operate effectively as independent companies. This is the best time to streamline our management structure. When we think there is a better We never insisted on being a manager when running a company the way we do. Alphabet and Google no longer need two CEOs and one president. "

Page served as CEO when Google restructured in 2015 and formed parent company Alphabet to oversee "other bets" outside its main business. Page has previously served as Google's CEO. Under the new structure, Pichai became CEO of Google after effectively running most of his business, while Page chose to hide behind the scenes and focus on controlling the overall situation. Pichai previously led the company's Android and Chrome businesses.

Page and Brin still have a controlling stake in the company. Page holds approximately 5.8% of Alphabet, Brin holds approximately 5.6%, and Pichai holds approximately 0.1%. This ensures that the new CEO may still be constrained by the company's founders. Google said its voting structure will not change as a result of the decision.

With core digital advertising operations run by Google showing signs of slowing, Alphabet may need to rely more on "other bets." Google showed that advertising revenue slowed in the first quarter of 2019, and profit in the third quarter fell year-on-year. Although its cloud computing business is growing, the company is still struggling to generate significant revenue in the hardware space.

The following is the full text of Page and Brin's open letter:

The first founder letter that we attached to the 2004 S1 document began with this: "Google is not a traditional company, and we do not intend to be one of them. Throughout Google's evolution as a privately held company, We always manage Google differently. We also emphasize creativity and a climate of challenge that helps us provide unbiased, accurate, and free access to information for those who rely on our services around the world. "

We believe that these core principles are still true today. Google is not a traditional company and continues to make ambitious bets on new technologies. Creativity and challenges still exist as before, and they are increasingly used in various fields such as machine learning, energy efficiency and transportation. Nonetheless, Google ’s core service, which provides unbiased, accurate and free access to information, remains at the core of the company.

However, the company has grown and matured since we wrote the first founder letter. Within Google, a variety of popular consumer services have emerged following searches, such as Google Maps, Google Photos, and YouTube; a global device ecosystem supported by our Android and Chrome platforms, including devices made by Google; Google Cloud services, including GCP and G Suite; of course there are basic technologies around machine learning, cloud computing and software engineering. Billions of people choose to make these products the core of their lives. This is an honor, a trust and a responsibility, and Google will continue to work hard.

Structurally, Google was reorganized into Alphabet in 2015. As we stated in our open letter when Alphabet was founded in 2015: "The purpose of Alphabet is to achieve business prosperity through strong leaders and independence."

Since we wrote this, hundreds of Phoenix residents are now driving around Waymo self-driving cars, and Wing became the first drone company to provide commercial delivery services to consumers in the United States. Verily and Calico Important collaborations are underway in collaboration with other healthcare companies. Our "other bet" has its own board, independent directors and outside investors.

These are just a few examples of the technology companies we have set up inside Alphabet, as well as investment subsidiaries GV and Capital G, which already support hundreds of companies. Coupled with all Google services, this forms a colorful blueprint for cross-industry technology bets, all of which are designed to help people and meet major challenges.

Our second founder's letter started like this: "Google was born in 1998. If it was a person, it would have started elementary school late last summer (around August 19), and today it has almost finished one Grade. "

Now, in 2019, if Google is a person, it will be a 21-year-old young man, and it is time to leave home and go out. Although it is a great honor to participate in the daily management of the company for a long time, we believe that it is time to take on the role of proud parents, that is, to provide advice and care, not every day!

Alphabet is now firmly established, with Google and other bets operating effectively as independent companies, and this is the best time to streamline our management structure. When we think there is a better way to run a company, we never stick to the role of manager. Alphabet and Google also no longer need two CEOs and one president.

Looking ahead, Pichai will serve as CEO of both Google and Alphabet. He will be the executive responsible for leading Google and managing Alphabet's investment in our "other bet" portfolio. We are firmly committed to the long-term cooperation between Google and Alphabet and will continue to actively participate as board members, shareholders and co-founders. In addition, we plan to continue to communicate with Pichai on a regular basis, especially on topics we are all interested in!

Pichai brings humility and passion for technology to our customers, partners and employees every day. He has worked closely with us for 15 years in the establishment of Alphabet, the CEO of Google and a member of the Alphabet Board. He shares our belief in the value of Alphabet's architecture and the ability it provides to solve major challenges through technology. Since Alphabet was founded, we have not been more suitable than him, nor have we been better at leading Google and Alphabet to the future.

Seeing a small research project develop into a source of dependence and empowerment for billions of people, we are deeply humbled. This is the bet we place as two Stanford students, which has led to many other technology bets. In 1998, we couldn't imagine what the next journey would be like when we moved the server from the dormitory to the garage.

The following is the full text of Pichai's open letter:

A few weeks ago, when I was visiting Google employees in Tokyo, I talked about how Google has changed over the years. In fact, the only thing I have seen unchanged for more than 15 years at Google is change. This process of constant evolution, which the founders often call "discomfortable excitement," has been deeply imprinted in our bones. Today, when you read a blog post by Page and Brin, this sentence will make you feel particularly real.

I first met Page and Brin in 2004, and since then I have always benefited from their guidance. The good news is that I will continue to work with them, even though they play different roles with me. They will still provide advice as board members and co-founders.

I want to clarify that this transition will not affect Alphabet's architecture or our daily work. I will continue to follow Google and the work we are doing to advance the boundaries of computing and build a more helpful Google for everyone. At the same time, I am excited about Alphabet and its long-term mission of solving major challenges through technology.

The founders gave us all an incredible opportunity to make an impact on the world. Thanks to them, we have an eternal mission, lasting values, and a culture of cooperation and exploration, which makes working at work every day exciting. This is a solid foundation on which we will continue to develop. Can't wait to see where we go next, and look forward to continuing this journey with you all. (Little)

Source: Netease Technology Report, translated by Google Translate

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