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Google said in a blog post Tuesday that its chief executive, Sundar Pichai, would replace Larry Page as CEO of its parent company, alphabet. O. This shows that page and Sergey Brin, President of alphabet, have further retired from the company's public role. Page and Brin co founded the company 21 years ago.
"Although it's a great honor to be deeply involved in the daily management of the company for such a long time, we believe that it's time to play the role of proud parent - giving advice and love, but not nagging every day!" Page and Brin wrote on their blog.
Alphabet was founded in 2015 after the reorganization of Google. It also owns Waymo, Verily, and several other businesses, which are still losing money. Page wants to focus on these new businesses and let Pichai manage Google, the largest and most profitable part of alphabet. Brin continues to be president of alphabet.

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