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Google Will Operate Under A New Holding Company Called Alphabet

Google Inc (NASDAQ:GOOG) CEO Larry Page announced a new operating structure to increase management scale and focus on its consolidated businesses. He also emphasized that Google is “operating well today, but they can make it cleaner and better.”

Google is now part of a new holding company called Alphabet

In a press statement on Monday, Page said they created a new holding company called Alphabet, which he will serve as CEO and Sergey Brin as President. Google will operate under Alphabet.

Page explained that Alphabet will be composed of a collection of companies including the search engine giant. He emphasized that Alphabet is about “business prospering through strong leaders and independence.

“In general, our model is to have a strong CEO, which runs each business, with Sergey and me in service to them as needed. We will rigorously handle capital allocation and work to make sure each business is executing well. We'll also make sure we have a great CEO for each business, and we’ll determine their compensation,” explained Page.

Additionally, Page said they plan to implement segment reporting in their financial results for the fourth quarter. The financial results of Google will be provided separately from the rest of Alphabet businesses.

Furthermore, Page said Google will be trimmed down. The business under the search engine giant that are far afield its main internet products such as Life Sciences (focused on glucose-sensing contact lens) and Calico (focused on longevity) will operate under Alphabet.

Google business will include search, ads, maps...


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