Google launched its parent company Alphabet Inc

Pichai quickly began to receive more responsibility, however, taking on involvement with various Google search products including Firefox, Google Toolbar, Desktop Search, Gadgets, and Google Gears and Gadgets.

Google Inc. announced a major shake-up of its operating structure on Monday, creating a holding company called Alphabet which will contain subsidiaries to separate its core web advertising business from newer ventures like driverless cars. Each business, including Google, will have its own CEO.

Tony Zingale, the executive chairman of Jive Software, said Pichai was “incredibly insightful and direct”, acting as “the quiet yet thoughtful outside director” when he served on the board of the collaboration software maker for several years until July 2013.

Porat will serve as the CFO of both Alphabet and Google. “Maybe it’s better to sort them out a bit and make it clearer which ones are bringing in the bacon and which ones are science projects and which ones are long term bets”, said Roger Kay, an analyst at Endpoint Technologies Associates.

Fellow co-founder Sergey Brin will become president of Alphabet, and Eric Schmidt will be executive chairman.

Remember, Google doesn’t pay any dividends.

Calico: It is more into research on how to prolong human life. And investors seem to like that idea, with shares up by 6 per cent in after-hours trading.

That’s what everyone is trying to figure out.

With this, Google will be replaced by Alphabet Inc as the publicly-traded entity and all its shares will automatically converted into the of shares of new parent entity with same rights. Google’s corporate motto is famously “don’t be evil”, although that hasn’t stopped the company from getting into strife with the European Union, which has been trying to break up Google for years, over its market dominance, or being criticised by various countries (including Australia) for not paying much tax.

So what exactly will the new Alphabet look like?

Yeah, we know. It’s bad!

The Mountain View-based company co-founded by Larry Page and Sergey Brin in 1998 has grown from an Internet search engine to a far-reaching conglomerate that employs more than 40,000 people worldwide. In addition to Twitter’s interest, Pichai’s name was also mentioned as a potential front-runner for the position of Microsoft CEO after Steve Ballmer announced his resignation in August 2013.