Alphabet, Google's New Parent Company
According to the company’s SEC filing, Alphabet will eventually replace Google as the publicly traded company on the Nasdaq stock exchange, and all shares of Google will convert to shares of Alphabet. Company shares will continue to trade on the Nasdaq under the same GOOGL and GOOG ticker symbols
Since launching in 1998, Google has expanded from a search engine into everything from the life sciences to self-driving cars. The new corporate structure will give Google itself a tighter focus on its main competencies while spinning off businesses that are “far afield” of those efforts into separate companies.
Larry Page will be CEO of Alphabet, Sergey Brin will be president and Eric Schmidt will be executive chairman
Google’s current directors will become directors of Alphabet.
According to Larry Page, this new structure will allow to have strong CEO for each unit.
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