Larry & Brin said: "And Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet's investment in our portfolio of Other Bets."
They added: "We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders and co-founders. In addition, we plan to continue talking with Sundar regularly, especially on topics we're passionate about!"
Pichai made it clear that the transition will not affect the Alphabet structure or the work they do day to day.
He said: "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."