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Larry Page and Sergey Brin have published a new letter. This time, they have announced that they will step back from their CEO and President roles.
Larry Page and Sergey Brin are the founders of Google since 1998. In 2004, they have written their first founders' letter, where they shared their thoughts and visions on Google as a company.
Google is not a conventional company. We do not intend to become one. Throughout Google’s evolution as a privately held company, we have managed Google differently. We have also emphasized an atmosphere of creativity and challenge, which has helped us provide unbiased, accurate and free access to information for those who rely on us around the world.
Founders' letters have become a tradition and are published on the eve of an important date or release.
This Tuesday, Larry and Sergey sent the letter to Googlers. In the letter, they have announced that they will leave their executive roles and shared their views on the future of the company.
With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it’s the natural time to simplify our management structure. We’ve never been ones to hold on to management roles when we think there’s a better way to run the company. And 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. In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!
You can read the full letter here.