What Google’s new structure means for YouTube

“But in the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant”, Larry Page, Google co-founder and now Alphabet CEO said in a blog post.

“Alphabet is mostly a collection of companies”.

Bret Taylor, co-creator of Google Maps, ex-CTO of Facebook and Co-Founder of technology Quip also congratulated Pichai, the first non-white CEO, on Twitter. Google’s chairman, Eric Schmidt, will transition to the same role at Alphabet.

The company’s chief business officer, OmidKordistani, will step down and become “an advisor to Alphabet and Google” according to the company’s SEC filing.

The world has relied so much on Google that the news of the powerful company transforming into a holding called Alphabet has kept everyone looking out for the next events. But for now they will remain the same.

Pichai joined Google just before its 2004 initial public offering and several colleagues who worked with him in the years following said he never seemed annointed for the top job.

“If people want to work for an exciting, emerging business, they can do that under the auspice of Alphabet, and not be mentally hamstrung by the notion of working for a company that was founded in the 1990s”, Kessler says. Despite the reorganization, Google will continue to develop new products within the subsidiary, such as the recently launched Google Photos and Google Now. Other units, such as its research lab Google X, internet provider Google Fiber, and life sciences division Calico, will be separately incorporated, with their own chief executive. Each Alphabet subsidiary will have its own CEO, allowing the company to run different divisions independently that may not be closely related.

Google’s investors have given the internet giant’s shock restructuring a clear vote of confidence, sending shares close to an all-time high on Tuesday. Google itself is also making all sorts of new products, and I know Sundar will always be focused on innovation-continuing to stretch boundaries.

The Paper, a government-run news website, even named the parent companies’ new website address in its report, saying the unorthodox mix of letters “broke with convention”.