Google changing operating structure, it will be part of holding company Alphabet

Justin Sullivan-Getty Images Google senior vice president of product Sundar Pichai delivers the keynote address during the 2015 Google I/O conference on May 28, 2015 in San Francisco, California.

Google has announced a major restructuring of the entire organization, starting with the creation of an all-new company called Alphabet, Inc. Both of its types of shares will continue to trade as GOOG and GOOGL on Nasdaq. The largest of which, of course, is Google.

Alphabet is also replacing Google as a publicly traded entity. “From the start, we’ve always strived to do more, and to do important and meaningful things with the resources we have”. Good examples are our health efforts: Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity).

A “strong” CEO will run each of the businesses with assistance from Page and Brin, Page said.

I wasn’t even sure how to write this headline, but here we are. That includes Google, which will now be CEO’d by Sundar Pichai (one less Twitter candidate?).

“This new structure will allow us to keep tremendous focus on the extraordinary opportunities we have inside of Google”, Larry Page said in the blogpost. Well Page did also explain that in his blog post today. All the Alphabet subsidiaries, including Google, will be using “segment reporting” to report their financial results separately as well.

Under the new operating structure, its main Google business will include search, ads, maps, apps, YouTube and Android and the related technical infrastructure (the “Google business”).

Unusual day but there you have it. Google is now part of Alphabet.

Empowering great entrepreneurs and companies to flourish.

What could be better? Don’t worry, we’re still getting used to the name too!