Google Name Change To Alphabet

Google will be re-named and majorly re-structured.

16:07 13 August 2015

After 16 years, Google is about to undergo major changes. Although the company will continue to operate as Google, it will operate a holding company named “Alphabet”, as announced after stock markets closed.

 

Alphabet will include not just Google but the company’s huge array of other operations.

 

The company explained that the move to split the company and rearrange it under a new name will allow each of those different businesses to be run by different bosses.

 

In an announcement, the company wrote: "Alphabet will also include our X lab, which incubates new efforts like Wing, our drone delivery effort. We are also stoked about growing our investment arms, Ventures and Capital, as part of this new structure."

 

Larry Page wrote in a blog post that the company has "long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes.

 

"But in the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant."

 

Sundar Pichai will become Alphabet’s CEO. He said: Google "is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet.

 

"I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President."