According to Page and Brin, Google and Alphabet have become "well-established" companies that can operate independently and "it’s the natural time to simplify" the management structure.
"... Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet’s investment in our portfolio of Other Bets. We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders and co-founders", the Google co-founders said in the statement, adding that they "plan to continue talking with Sundar regularly".
Google, founded in 1998, is a US multinational technology corporation specializing in Internet-related services and products, including online advertising technologies, search, cloud computing, and software.
In 2015, Google Inc. introduced a new operating structure and created a new public holding company named Alphabet Inc.
Last year, Alphabet's primary unit, Google, reportedly become the top target in Silicon Valley for regulators, authorities in advertising and media. It has also drawn scrutiny for its dominance in online search advertising, its controversial policies around user privacy and its role in allegedly helping politically consequential misinformation to be spread online.