Yesterday, Google laid out its plans for an upcoming corporate restructuring. Google will become Alphabet, which, according to Google CEO Larry Page, will essentially be “a collection of companies”. Different facets of Google will become their own companies under Alphabet, with Google being its largest. Other companies now under Google, but far removed from the internet, will be moved away from Google and will be managed under Alphabet. Some projects like Life Sciences and Calico, both focused on the medical field, will be a part of Alphabet.
All Google Inc. publicly-traded shares will now be converted to Alphabet Inc. shares. Google will be a wholly-owned subsidiary of Alphabet. Each of the companies under Alphabet will have their own CEO, with Sundar Pichai becoming the CEO of Google. Larry Page will become the CEO of Alphabet. According to Page, this restructuring will allow the founders of Google to focus on the various projects run by the company, from the new ascended position of Alphabet.