Page and Brin Leave as Google CEOs Google cofounders Larry Pa | Benefit Daily

Page and Brin Leave as Google CEOs

Google cofounders Larry Page and Sergey Brin are stepping down from their management roles. They will no longer be CEOs but will be able to control the company."With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it's the natural time to simplify our management structure,"Page and Brin said in the announcement. "We've never been ones to hold on to management roles when we think there's a better way to run the company. And Alphabet and Google no longer need two CEOs and a President."

Daniel Ives, an analyst at Wedbush Securities, said that the timing of their departures "will raise more questions around the company's future strategy." "It’s a natural time for Larry and Sergey to leave since the current restructuring of Alphabet, which started four years ago," he continued.

Ivan Feinseth, director of research at Tigress Financial Partners, said that Pichai is a good choice to take over Alphabet. Under his leadership, the company has been "on the forefront of every key secular tech trend: cloud, mobile, search, advertising, including investing in a lot of emerging technologies."

Investors had a muted reaction to the news. Shares in Alphabet nudged up only a half percent to $1,292.38 in extended trading, after the announcement Tuesday afternoon.