| 1 | Google has a new boss. |
| 2 | The tech giant announced Monday that it will restructure by creating a new company called Alphabet Inc., which Google will report to from now on. |
| 3 | Google's current CEO Larry Page will shift over to run Alphabet along with co-founder Sergey Brin, who will help lead Alphabet as President. |
| 4 | The creation of Alphabet will also institute Sundar Pichai as CEO of Google, who has been the company's senior vice president in charge of products. |
| 5 | "Our company is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet," Page said in a company blog post. |
| 6 | "I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President." |
| 7 | Alphabet will be a large company the oversees other companies such as Google. |
| 8 | Some of the other companies include life-extension project Calico and a drone delivery venture called Wing. |
| 9 | Pichai and Google will still retain control of the products we all know: search, ads, maps, YouTube, Google Play Store and Android. |
| 10 | The restructure of Google will also involve financial restructuring. |
| 11 | Google Inc. shares will now be traded as shares of Alphabet Inc. The announcement on Monday drove the company's share price up more than four percentage points. |
| 12 | "For Sergey and me this is a very exciting new chapter in the life of Google -- the birth of Alphabet," Page said. |
| 13 | "We liked the name Alphabet because it means a collection of letters that represent language, one of humanity's most important innovations, and is the core of how we index with Google search." |