Google Reorganizes Into Alphabet: Sundar Pichai is CEO of Googleby Joshua Ho on August 10, 2015 5:25 PM EST
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Today, Google announced that they will undergo reorganization to better represent the growth that the company has seen in the past few years. As a result, Google the company will be now branded as Alphabet.
The big news here is that Google the internet services company will become one subsidiary of the larger Alphabet company - and said subsidiary still operating under the name Google - with the goal of better seperating Google's core business from what are now Alphabet's more experimental, far flung ventures. Consequently this change will see current parts of Google like X labs, Calico, Life Sciences, and other ventures shifted over to Alphabet. Meanwhile web services and software like Android, Maps, and Gmail will remain under the Google brand.
Organizationally, Larry Page will remain CEO of this reorganized company, and Sergey Brin will be President. Sundar Pichai will also be CEO of the new Google. Google stock is also immediately being converted over to Alphabet stock, and going forward Alphabet will be the reporting company, however Google-the-subsidiary results will be broken down and reported as part of Alphabet's results.
Ultimately it remains to be seen what effects this will have on the Google that we’ve known for the past few years. However given that the management structure has remained relatively constant in this move I suspect that business will continue on as usual.
Source: Google Official Blog