New CEO of Google is from India-born ‘Sundar Pichai’
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Sundar Pichai, India-born was named as CEO of Google on Tuesday by company’s founders ‘Larry Page’ & ‘Sergei Bring in a course of the reorganization that created the mother company called Alphabet. New CEO of Google is from India-born ‘Sundar Pichai’
Sundar Pichai, aged 43, native Chennai, who went to IIT Kharagpur & later to Stanford & Wharton, is going to take charge of the slimmed down Google (rapidly dubbed Google Minus) that ‘Larry Page’ said will be exposed to companies that are pretty far afield of their main Internet products, which will all go into the “Alphabet”. Larry Page will be CEO of Alphabet.
The new mother company may include, as well Google, units such as ‘Calico’, which focuses on Longevity, ‘X lab’ which protects new efforts like Wing, Google’s drone delivery effort & units dealing with life sciences such as one working on smart contact lens that detects the blood sugar level. Google’s investment arms, Ventures & Capital, will also be part of Alphabet.
Larry Page said in a blog that they have long believed that over time companies tend to get relaxing doing the same thing, just making the incremental changes. But in technology industry, where innovative ideas force the next big growth areas, you require to be a bit uncomfortable to stay applicable, explaining the sensible for restructuring, adding that the new structure would allow them to keep marvellous focus on an extraordinary opportunity they have inside of Google.
Still, Google may remain the biggest piece of the company Alphabet. Explaining Sundar Pichai’s height, Larry Page said he (Sundar Pichai) had really stepped up since October month of last year, when he took on the product & engineering responsibility for the Google’s Internet businesses.
He wrote that the Sergey (Brin) & he had been super thrilled about his progress & commitment to the company. And that is clear to them and our board that it is time for Sundar Pichai to be CEO of the Google. He felt very opportune to have someone as talented as he is to run slightly slimmed down the Google & this frees up time for him to continue to scale their aspirations.
He said he has been spending rather a bit of time with Sundar Pichai, helping him & the company in any way he can, and he would, of course, continue to do that.
A straight altitude for Sundar Pichai would have meant that 2 of the world’s 5 largest companies by market cap are headed by the executives of Indian-origin — Sundar Pichai at Google which is ranked #4, & Microsoft, which is ranked # 5, is helmed by Satya Nadella.
But it would not be so straight forward. Larry Page explained that the Alphabet Inc. will replace Google Inc. as the publicly-traded unit, and all shares of the Google will automatically convert into the same number of shares of Alphabet, with all of the same rights. Google will become the wholly-owned auxiliary of Alphabet, which he (Larry Page) will helm. The company’s two classes of shares will continue to trade on the Nasdaq as GOOGL & GOOG.
Still, the altitude is a milestone for the Indian-origin CEOs, of whom there are at least half dozen in luck 500 companies, including the Indra Nooyi at Pepsi, Ajit Banga at Mastercard, & Sanjay Mehrotra at SanDisk. There is good chance that the third ranked Berkshire Hathaway too could be headed by the PIO with Ajit Jain strongly leaned to succeed Warren Buffett. Apple & Exxon Mobil are ranked #1 and #2 respectively.