Extreme makeover: virtual edition? Google founders Larry Page and Sergey Brin stepped down from their big dog roles at Google’s parent company: Alphabet (+2.20%).
They’ll pass the Toorch to Sundar Pichai. He has overseen Google for about four years. Pichai will now double dip at both Google and Alphabet.
- It’s time to leave the nest. Brin and Page were obviously major factors in Google’s growth, but they’re not going too far.
We still want a say! The departing CEOs own 51% of voting shares in the company, so they’ll still have control over most big decisions. But now they’ll have more time to sip Jasmine Tea on a beach in Thailand.
How Does It Affect My Wallet?
Brace for impact. Regulators are investigating Google. The pivot towards more traditional corporate governance hunts they are bracing for a fight.
We all got issues. The recent WeWork-SoftBank fiasco showed Silicon Valley startups often have appealing, but seriously flawed corporate structures.
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