Google Restructures Under New Parent Company Alphabet

Tech giant Google has gone through a lot of changes since its creation 16 years ago. And it has long since expanded beyond its core business as a search browser, becoming one of the biggest and most far-reaching tech companies on the planet. But Google may be about to experience its most drastic change to date.

Yesterday, CEO Larry Page (pictured) announced that Google will undergo a major restructuring. In fact, in some ways, it will not even be EUGoogleEU at all -- from now on, that name will refer only to the companyEUs search business. The parent company, and the name of its publicly listed stock, will be called EUAlphabet.EU

A Slimmer Google, a Bigger Alphabet

Despite the name change, Google will remain the largest subsidiary within the Alphabet umbrella. Page will become CEO of the parent company, alongside Sergey Brin who will act as AlphabetEUs president. Sundar Pichai, Google's former product chief, has been appointed as CEO of Google. If so little is changing other than the name, why bother with the transition?

According to Page, it boils down to a question of focus and clarity. EUOur company is operating well today, but we think we can make it cleaner and more accountable,EU Page said on GoogleEUs public relations Web site. EUThis newer Google is a bit slimmed down, with the companies that are pretty far afield of our main Internet products contained in Alphabet instead.EU

As a result, some of the companyEUs more ambitious or non-Internet related projects will now be organized as part of Alphabet, and will be considered separate from the core Internet business. That will include divisions like Life Sciences and Calico, which tend to focus on moonshot goals such as developing glucose-sensitive contact lenses or extending the human lifespan.

GoogleEUs X Lab, which functions as a...

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