Google co-founders step aside as Pichai takes helm of parent Alphabet

SAN FRANCISCO (Reuters) - Google Chief Executive Sundar Pichai will replace Larry Page as CEO of parent Alphabet Inc , the company said in a blog post on Tuesday, reflecting the increasingly diminished public role of Page and Sergey Brin at the company they co-founded 21 years ago.

"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!" Page and Brin wrote in the blog https://bit.ly/2sA9tGb.

Alphabet, which also owns self-driving car technology company Waymo, health care software firm Verily and several other businesses, emerged in 2015 as part of a corporate restructuring. Page had wanted to focus on developing those newer businesses, which collectively lose money, while leaving Alphabet's biggest and most profitable unit, Google, for Pichai to oversee. Brin had stayed on as Alphabet's president.