The founders of tech giant Google have announced they will step down from the day-to-day running of its parent company.
Larry Page and Sergey Brin have served as CEO and president respectively since Alphabet was formed in 2015 out of a corporate restructuring of search engine Google as it expanded the services it offered.
They will remain on the board and retain their 51 per cent stake in Alphabet while Google CEO Sundar Pichai will also become CEO of Alphabet.
“While it has been a tremendous privilege to be deeply involved in the day-to-day management of the company for so long, we believe it’s time to assume the role of proud parents—offering advice and love, but not daily nagging!” the duo, both aged 46, wrote in a blog post.
“With Alphabet now well-established, and Google and the other bets [such as self-driving car initiative Waymo] operating effectively as independent companies, it’s the natural time to simplify our management structure.
“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.”
Page and Brin will now assume advisory roles to assist Pichai, 47, who became Google CEO as part of the 2015 restructure and has been with the company for more than 15 years.
“I first met Larry and Sergey back in 2004 and have been benefiting from their guidance and insights ever since,” he wrote in an email to Google staff.
“The good news is I’ll continue to work with them – although in different roles for them and me. They’ll still be around to advise as board members and co-founders.
“The founders have given all of us an incredible chance to have an impact on the world. Thanks to them, we have a timeless mission, enduring values, and a culture of collaboration and exploration that makes it exciting to come to work every day.
“It’s a strong foundation on which we will continue to build. Can’t wait to see where we go next and look forward to continuing the journey with all of you.”