AI News, Google stocks rise after Larry Page and Sergey Brin stepped down ... artificial intelligence

Google Founders Sergey Brin And Larry Page Step Down From Top Roles

Ending an era at the Internet’s biggest search company, Google co-founders Sergey Brin and Larry Page are leaving their leadership roles and CEO Sundar Pichai will become chief executive of both Google and its parent company, Alphabet.

They will remain board members of Alphabet, a company that oversees not just Google but also research into artificial intelligence and self-driving cars.

They made Google into one of the world’s largest, most profitable companies, dominating online search, digital advertising and video.

“We’ve never been ones to hold on to management roles when we think there’s a better way to run the company,”

Last year, thousands of Google workers around the world walked out in protest of sexual harassment and bad behavior by executives.

Google Co-Founders Step Down as Execs of Parent Alphabet

SAN FRANCISCO (AP) — The co-founders of Google are stepping down as executives of its parent company, Alphabet, ending a remarkable two decades during which Larry Page and Sergey Brin shaped a startup born in a Silicon Valley garage into one of the largest, most powerful — and, increasingly, most feared — companies in the world.

Google dominates online search and digital advertising and makes the world’s most widely used operating system for smartphones, Android.

It’s hard to make it through a whole day without using one of Google’s services — ranging from online tools to email, cloud computing systems, phones and smart speaker hardware.

Its video streaming business, YouTube, was fined $170 million to settle allegations it improperly collected personal data on children without their parents’

Pichai assured employees in an internal email that his new job wouldn’t mean he was taking a step back from Google.

“I will continue to be very focused on Google and the deep work we’re doing to push the boundaries of computing and build a more helpful Google for everyone.”

Alphabet — an umbrella corporation that the two created in 2015 — still boasts Google as its central fixture and key moneymaker.

Both stopped making appearances at the weekly question-and-answer sessions with employees, and Page didn’t attend this summer’s Alphabet shareholders meeting even though he was still in the CEO role.

Pichai, 47, has worked at the company for 15 years, serving as a leader in projects to build Google’s Chrome browser and overseeing Android.

Last year, Google raised hackles in Congress by refusing to send Page or Pichai to a hearing on Russian manipulation of internet services to sway U.S. elections.

Page grew up in Michigan, where his late father, Carl, was a computer scientist and pioneer in artificial intelligence, and his mother taught computer programming.

Google co-founders Larry Page and Sergey Brin step aside as Pichai takes helm of parent Alphabet

SAN FRANCISCO (AP) - The co-founders of Google are stepping down as executives of its parent company, Alphabet, ending a remarkable two decades during which Mr Larry Page and Mr Sergey Brin shaped a startup born in a Silicon Valley garage into one of the world’s largest, most powerful – and, increasingly, most feared – firms in the world.

Google dominates online search and digital advertising and makes the world’s most widely used operating system for smartphones, Android.

It’s hard to make it through a whole day without using one of Google’s services – ranging from online tools to email, cloud computing systems, phones and smart speaker hardware.

'Today, in 2019, if the company was a person, it would be a young adult of 21 and it would be time to leave the roost,' they wrote in a blog post.

Both stopped making appearances at the weekly question-and-answer sessions with employees, and Mr Page didn’t attend this summer’s Alphabet shareholders meeting even though he was still in the CEO role.

Mr Pichai, 47, has worked at the company for 15 years, serving as a leader in projects to build the company’s Chrome browser and overseeing Android.

Google is facing strong pushback from privacy groups, which are concerned about the personal information that Google has collected on its users, mostly to target advertising.

The company has also faced harsh criticism about the material on its sites – and was slapped with a US$170 million (S$231.87 million) fine because its video streaming site YouTube improperly collected personal data on children without their parents’ consent.

According to a regulatory filing in April, Mr Page holds 42.9 per cent of the company’s Class B shares and 26.1 per cent of its voting power.

End of an era as Google founders step down from parent company

Twenty-one years after founding Google in a messy garage in Menlo Park, California, Larry Page and Sergey Brin have stepped down from day-to-day management of the company to assume the role of “proud parents – offering advice and love, but not daily nagging!” Page and Brin’s decision to hand over control of Google, and its parent company Alphabet, to long-standing lieutenant Sundar Pichai is the end of an era for the search engine giant, which had been built in their image and followed their personal values.

Their exit from the executive suite is the biggest change at the top of a US technology powerhouse since Steve Jobs resigned as chief executive of Apple shortly before he died from cancer in 2011, or when Bill Gates, the billionaire founder of Microsoft, stood down as chief executive in 2000.

“While it has been a tremendous privilege to be deeply involved in the day-to-day management of the company for so long, we believe it’s time to assume the role of proud parents – offering advice and love, but not daily nagging!

Thousands of employees walked out of Google offices around the world last year to protest against a $90m payoff to the former Android boss Andy Rubin, despite finding sexual misconduct claims against him to be credible.

The pair’s reference to becoming “proud parents” is a knowing nod to the “parental supervision” they brought to the company when they appointed the Silicon Valley veteran Eric Schmidt as Google’s chief executive in 2001, when Page and Brin were still in their 20s and the company was growing rapidly.

Google stocks rise after Larry Page and Sergey Brin stepped down

Stock in Google's parent company Alphabet is rising after co-founders Larry Page and Sergey Brin announced that they are stepping down from their management roles.  Page and Brin, both 46, announced in a blog post on Tuesday that they will be stepping down as Alphabet CEO and President respectively, amid mounting legal troubles for Google in both Europe and the US.

The share movement signaled market confidence in Pichai, as well as growing investor frustration with Page and Brin for Alphabet's lavish spending under the aegis 'Other Bets' — a collection of longshot projects that Pichai is seen as much less enthusiastic about.  Evercore ISI analyst Kevin Rippey said the management change should consolidate power in a company which '(till now) had been characterized by a degree of fragmentation in organizational structure, if not strategic vision.'  Pichai takes charge during an unprecedented political and regulatory scrutiny hovering over the company and will have to decide on the future of a plethora of ambitious and cash-burning bets including driverless cars and helium balloons that provide solar-powered internet services in remote areas.  Page and Brin will remain directors of the parent company and still control it through their ownership of preferred shares.

The pair have spent years avoiding difficult questions about their company, including on election interference, anti-trust practices, mass data collection, censorship in China and sexual harassment claims within Google's upper echelons.  In 2018, as Twitter boss Jack Dorsey and Facebook COO Sheryl Sandberg were grilled by US Senators over election meddling, Page's chair was empty after he claimed he was too busy to attend the hearing.  The Telegraph reports they have also been absent from shareholder meetings where a group of vocal activist owners have been demanding answers, and routinely skip Friday drinks at Google HQ where they used to answer questions from staff.  Page and Brin wrote in a blog post Tuesday: 'With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it's the natural time to simplify our management structure.

Alphabet has been positioning Pichai as the de facto leader for quite some time — making him the top executive voice at shareholders meetings, on earnings call and as a spokesman at congressional hearings.  Both founders promised they plan to stay actively involved as board members and shareholders, and lauded Pichai for his leadership of the company.  Alphabet — an umbrella corporation that the two created in 2015 — still boasts Google as its central fixture and key moneymaker.

The geeky impulses carried into his adulthood, leading him to once build an inkjet printer out of Legos.  Google's longest serving CEO is still Eric Schmidt, the former executive brought into the role in 2001 as a so-called 'adult supervisor' for Brin and Page.  Schmidt stepped into the position as the company's board worried about the relative inexperience of Brin and Page to manage the growing company.

Sundar Pichai to replace Larry Page as CEO of Google parent Alphabet

Google Chief Executive Sundar Pichai will replace Larry Page as CEO of parent Alphabet Inc. Page, Brin and Pichai have all shared an emphasis on developing ...

Larry Page Steps Down as Alphabet CEO | Digital. All The Best Travel News by Simone Puorto

Larry Page stepped down as Alphabet CEO and gave Sundar Pichai control of both Alphabet and Google, effective immediately. Page and co-founder, Sergey ...

How Google Started, Grew and Became a $279 Billion Company

The Google Company came about in 1998 and was founded by Larry Page and Sergey Brin in order to market Google Search, the world's most used search ...

Google chief executive Sundar Pichai MUST RESIGN NOW !!

Google About 31700 results (0.23 seconds) Search Results Story image for GOOGLE EXECUTIVE SUNDAR from Business Insider Employee confidence in ...

Sundar Pichai Success Story | A Road to CEO Journey | CEO of Alphabet

Sundar Pichai Success Story | A Road to CEO Journey - CEO of Alphabet Milestones of Sundar Pichai at Google 1. In April 2004, Sundar Pichai began his ...

2019 Annual Meeting of Stockholders

Frontline - In the Age of AI

Season 2019 Episode 5 - 11/05/2019 The promise and perils of AI, from fears about work and privacy to the U.S.-China rivalry. One: China Has a Plan - 00:07:17 ...

Rana Foroohar | How Big Tech and Finance Betrayed Us and What We Can Do About It

In Episode 109 of Hidden Forces, Demetri Kofinas speaks with Financial Times Global Business Columnist, Rana Faroohar about her latest book dealing with ...