This afternoon, Google has announced a major restructuring of the company. Now, Google will hold an open joint stock company under the name Alphabet. Director General of the Alphabet will be Larry Page. Sergey Brin becomes president company and Eric Schmidt will hold the position of executive director. Google will become the new director Sundar Pichai.
So, after the restructuring, under the name Google will work departments such as the Search, YouTube, Ads, Maps, Apps and Android. Departments Nest, Fiber, Google Ventures, Google Capital and Google X will be released «from under the wing» Google.
Financial statements Alphabet and Google also will be published separately, Google shares will be converted into shares of Alphabet in the calculation of one to one.
In his blog Google Larry Page wrote that this restructuring will help the company to implement more ambitious projects that enable businesses to thrive and businesses and make Google even better, because it will be given more attention.