Sergey Brin, Pages co-founder of Google, will become President ofAlphabetand Eric Schmidt will be its Executive Chairman.
Alphabet is about businesses prospering through strong leaders and independence, Page wrote.
We will rigorously handle capital allocation and work to check that each business is executing well.
The change should allow Alphabet to better manage and scale products in fields that are not directly connected.
Alphabet would replace Google as a publicly traded entity.
However, the company will continue to trade on the Nasdaq under the labels GOOGL and GOOG ticker symbols.
And, why the name Alphabet?
He also added, Dont worry, were still getting used to the name too!
Soon after the announcement, Google stock jumped about 5 percent in after-hours trading.
So, get ready to say goodbye to Google and say hello to Alphabet.
source: www.techworm.net
