Google Announces Sundar Pichai as CEOIt’s Silicon Valley’s version of Alphabet Soup. Google on last monday announced plans for a new operating structure, including a Parent company called "Alphabet" which will include – among other things – Google.
Larry announced the decision in a blog post: "Alphabet Inc. will replace Google Inc. as the publicly-traded entity and all shares of Google will automatically convert into the same number of shares of Alphabet, with all of the same rights.
Google Will Become Subsidiary of 'Alphabet'
Page said both he and Sergey Brin were excited about this new chapter in the life of Google: "The birth of Alphabet." "We liked the name Alphabet because it means a collection of letters that represent language, one of humanity's most important innovations, and is the core of how we index with Google search!" Page wrote. "We also like that it means alpha-bet (Alpha is investment return above benchmark), which we strive for! I should add that we are not intending for this to be a big consumer brand with related products--the whole point is that Alphabet companies should have independence and develop their own brands."
What do you make of the announcement?