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Sundar Pichai named CEO of Alphabet, Google's parent company

Sundar Pichai. Photo: Josh Edelson/AFP via Getty Images

Google's parent company, Alphabet, announced Tuesday that Sundar Pichai will take over as CEO of Alphabet in addition to his current role as head of the core Google unit. Pichai will replace Larry Page, who, along with Sergey Brin, will remain "actively involved as shareholders and co-founders."

Why it matters: Page and Brin, who started Google in 1998, have been increasingly invisible in recent years, not even appearing at key Google events.

What they're saying: "We’ve never been ones to hold on to management roles when we think there’s a better way to run the company," Page and Brin wrote in a public letter. "And Alphabet and Google no longer need two CEOs and a President."

Brin, whose title at Alphabet was president, and Page will both remain on the Alphabet board of directors.