Google to be part of new holding company, 'Alphabet'

1	Google announced it will now become part of a new holding company called 'Alphabet'.
2	Google, which has been expanding far beyond its original business of Internet search advertising, is changing its operating structure by creating a new holding company called Alphabet.
3	The company says its new structure will give more independence to many of its wide-ranging and ambitious projects.
4	Under the plan announced Monday, Alphabet will be comprised of the core Google business - including Internet search, mapping and YouTube - along with newer businesses that will be managed separately, such as Google Fiber, Nest and the investment arm Google Ventures.
5	Google CEO Larry Page will become CEO of the new entity, with his co-founder Sergey Brin serving as president.
6	Longtime Google executive Sundar Pichai, who has taken on increasingly important roles at the company in recent years, will be CEO of the core Google business.
7	The change may give investors a clearer picture of how much Google is spending on some of its newer ventures, like its effort to build a self-driving car, develop a glucose-sensing contact lens or install high-speed Internet fiber networks in a number of U.S. cities, said Colin Gillis, an investment analyst at BGC Partners.
8	But it may not signal much change in the current management structure, since Pichai has already been overseeing many of Google's core operations, Gillis said.
9	Google Inc. said its new chief financial officer, Ruth Porat, will hold the same title for both Google and Alphabet.