Google has announced that they will rebrand and restructure the company which will include the creation of new parent company, Alphabet Inc. The reshuffle will see Google’s most popular businesses such as search, apps, YouTube and Android remain under the Google arm, whilst the more recent investment and research divisions, smart-home unit, Nest and the drone entity, for example will be some of the businesses to reside under Alphabet Inc.
The objective is to build a simpler structure for the wide-ranging collection of businesses. Larry Pgae, founder of Google, will become the chief executive of Alphabet and Sundar Pichai, the senior vice president, taking top spot at Google. Co-founder of Google, Sergey Brin will be president of Alphabet and Google’s chairman, Eric Schmidt, will become the executive chairman of the parent company. It is expected that the move will provide transparency for investors on strategy and the amount Google is spending on new products.