Google is now a wholly owned subsidiary of a new company called "Alphabet", to be run by Larry Page and Sergei Brin. Sundar Pichai will be CEO of Google, which will remain focused on its core of web-related products. Alphabet will serve as and umbrella for Google's now quite diverse projects, with a separate CEO for each. By way of example, the announcement cites a Life Sciences group, and a group called Calico which is focused on longevity.
All stock in Google will be converted to Alphabet stock, with the same rights and number of shares.
takyon: The Register, The New York Times, Wired, MarketWatch.
(Score: 1, Informative) by Anonymous Coward on Tuesday August 11 2015, @12:57AM
> 64% of google stock is held by mutual funds and institutions. Don't those guys get a say?
When google did their IPO they structured it in such a way that common shares didn't get as much vote as privileged shares and privileged shares are not traded publicly.