Google cofounders Larry Page and Sergey Brin are stepping down from the day-to-day management of the web giant, and have appointed Sundar Pichai as the new CEO. Page and Brin will now head up a new company called Alphabet, which will wholly own Google.
"Sundar has been saying the things I would have said (and sometimes better!) for quite some time now, and I've been tremendously enjoying our work together," Page said in a blog post.