| 1 | Google is adopting this structure in order to make clearer the difference between its main business and longer-term endeavors. |
| 2 | Sundar Pichai, currently Google's senior vice president of products, will be the Google CEO. |
| 3 | Larry Page, Google's co-founder and chief executive, will become the CEO of Alphabet. |
| 4 | Sergey Brin, co-founder at Google Inc., will be president of the newly structured company. |
| 5 | Google is changing its corporate structure to separate its search, YouTube and other Web companies from its research and investment divisions. |
| 6 | The shares rose as much as 5.8 percent in extended trading after the company said Alphabet will be the name of what will effectively be a new holding company. |
| 7 | It will include Google Inc. and Google Ventures, Google Capital, Google X and other subsidiaries, the Web company said in a blog post on Monday. |
| 8 | Larry Page will be Alphabet's chief executive officer, while co-founder Sergey Brin will be president. |
| 9 | Ruth Porat will be chief financial officer. |
| 10 | Sundar Pichai, Page's deputy, will be promoted to become CEO of Google Inc., which generates the bulk of Google's $60 billion in annual revenue. |
| 11 | The goal isn't to make Alphabet a consumer brand, Page said. |
| 12 | Google is adopting this structure in order to make clearer the difference between its main business and longer-term endeavors, as Page and Brin take on more strategic roles, while leaving operational management to trusted deputies. |
| 13 | "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. |
| 14 | "Our company is operating well today, but we think we can make it cleaner and more accountable." |
| 15 | Shares of Google fell less than 1 percent to $663.14 at Monday's close in New York. |
| 16 | The stock is up 25 percent this year, with much of the gains coming after the company reported quarterly results last month. |
| 17 | The new structure will be introduced in phases over the coming months. |
| 18 | Alphabet will report its results under this new structure commencing with the fourth-quarter earnings release, typically posted in January. |
| 19 | With this move, investors will get more details on how the businesses are operating, a longstanding request from Wall Street. |
| 20 | Under the change, the core Google company will report separately from the investment and research arms, according to a filing. |
| 21 | "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!" |
| 22 | Page said. |