Google unveiled a surprise corporate overhaul Monday, forming a new parent company dubbed Alphabet to include Internet search and a handful of independent companies.
Google chief executive Larry Page announced the change, saying he would hold the same title at Alphabet, the new holding company for the tech giant’s newer ventures such as the research arm X Lab, investment unit Google Ventures and health and science operations.
Google will be one of the units, headed by the current company vice president Sundar Pichai.
“Our company is operating well today, but we think we can make it cleaner and more accountable,” said a statement from Page, who co-founded the tech giant with Sergey Brin 17 years ago.
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