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Google Creates 'Alphabet,' A New Umbrella Company To Oversee Itself

Google Inc. NASDAQ:GOOG, Google Inc. NASDAQ:GOOGL - Google Creates 'Alphabet,' A New Umbrella Company To Oversee Itself

Shares of Google Inc GOOGL 0.19% GOOG 0.25% were up roughly 5 percent in Monday’s after-hours session, after management announced it is creating a new company, Alphabet, which will consist of a collection of companies, with the largest being Google.

According to a blog post, Google Co-Founder and CEO Larry Page will act as Alphabet's new CEO, while Sundar Pichai will step up to be...


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