Google has a new owner: the company Alphabet

O Google announced today (10) a major overhaul of its corporate structure. Larry Page e Sergey Brin will leave the command of the company they created and will now be CEO and president, respectively, of A, a holding company that will house its own Google and other companies linked to the brand.

With the new positions Page e Brin resigned as CEO of Google all with Sundar Pichai, former vice president of products. Pichai will be responsible for the main products, such as the search engine, YouTube Android, Maps, Gmail, Chrome e Google Now.

The other business divisions such as Calico (has health projects), Life Science (who develops glucose-sensitive contact lenses), the Google Ventures (seed capital fund), the Google Capital (investment fund) and the Google X (research and development) will have their own CEOs. All of them will go to the holding A.

“This new structure will allow us to keep a tremendous focus on the extraordinary opportunities we have within the Google"- Larry Page in the official announcement published in the google blog.

Larry Page e Sergey Brin will manage the allocation of capital and “work to make sure every business is working well”. Alphabet Inc. will replace the Google Inc. as an entity on the exchange. All shares under the old brand will be converted to the new one, with the same rights. Even so, both classes of shares will continue to be traded on the Nasdaq , the GOOGL e GOOG.

The way the financial results will be disclosed will also change, and the profits and losses of each of the companies will be presented separately. The first results will be reported to the market in the form of a balance sheet for the first time in January 2016, when the results for the fourth quarter of 2015 will be released.

Source: ABC.xyz.