Google gets new corporate name, to now be known as ALPHABET

According to the announcement which was made on Monday, August 10, the Google moniker and web experience will remain the same, but some ventures that were under the Google umbrella will be placed under Alphabet.

 

Google will now be called  ALPHABET following a restructuring of the tech giant's business operations.

According to the announcement which was made on Monday, August 10, through a blog post, the Google moniker and web experience will remain the same, but some ventures that were under the Google umbrella will be placed under Alphabet instead with a CEO running each business unit.

It statement said that Google co-founder, Larry Page will serve as CEO of Alphabet, while fellow co-founder Sergey Brin as president.

“Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related," Page said. He added that Google is "operating well today, but we think we can make it cleaner and more accountable."

Sundar Pichai, who has effectively been leading Google's day-to-day operations, will step into the CEO role.

The company says its move under the Alphabet umbrella will not affect traders.

It was gathered that Google shares will convert into Alphabet shares, though they will continue to trade on NASDAQ as GOOGL and GOOG.

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