In a surprise restructuring move, Google is now part of a large holding company called Alphabet.
As Google grew in size, it soon became clear that a leaner structure was required if the company was to be run efficiently, hence Alphabet.
Alphabet is comprised of all the various business units of Google. The largest is obviously Google itself, but under Alphabet is also Calico, a company Google created in late 2013 to combat disease and aging. Other businesses that will fall under Alphabet include Google's early-stage funding operations - Capital and Ventures, as well as Nest, Life Sciences and Google X.
Larry Page will now become CEO of Alphabet while co-founder Sergey Brin will serve as President of Alphabet. The position of CEO at Google will be taken up by Sundar Pichai, who will oversee Google's search businesses, YouTube, Android, maps and more.
The idea, as Larry Page puts it, is to have strong CEOs run each of Alphabet's business, while he and Brin provides guidance and fund allocation. Additionally, to promote greater transparency, Google's financials will be reported separately from the rest of Alphabet's businesses.
Source: Google
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