| 1 | Google to adopt new holding structure under name 'Alphabet' Add to... |
| 2 | Google Inc. is changing its corporate structure to separate its search, YouTube and other Web companies from its research and investment divisions. |
| 3 | Alphabet will be the name of what will effectively be a new holding company, the Web company said in a blog post Monday. |
| 4 | It will include Google Inc. and Calico, a separate unit that includes Google Ventures, Google Capital, Google X and other subsidiaries. |
| 5 | Larry Page will be Alphabet's chief executive officer, while co-founder Sergey Brin will be president. |
| 6 | Ruth Porat will be chief financial officer. |
| 7 | Sundar Pichai, Page's deputy, will be promoted to become CEO of Google Inc., which generates the bulk of Google's $60-billion (U.S.) in annual revenue. |
| 8 | Google is adopting this structure in order to make clearer the difference between its main business and longer-term endeavours, as Page and Brin take on more strategic roles, while leaving operational management to trusted deputies. |
| 9 | "We've long believed that over time, companies tend to get comfortable doing the same thing, just making incremental changes," Page wrote in the post. |
| 10 | "Our company is operating well today, but we think we can make it cleaner and more accountable." |
| 11 | Shares of Google fell less than 1 per cent to $663.14 at Monday's close in New York. |