New Delhi: As Larry Page and Sergey Brin, Google co-founders, stepped aside, CEO Sundar Pichai has been named as the new CEO of Alphabet, the parent company of Google. The new position will make the 47-year-old Indian-American one of the most powerful corporate leaders of the world. He will also head Google. Also Read - Making Privacy Controls More Easily Accessible: Google CEO Sundar Pichai

“Today, in 2019, if the company was a person, it would be a young adult of 21 and it would be time to leave the roost. 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!” the co-founders wrote in a letter available on Also Read - Mark Zuckerberg Ahead of Tim Cook, Behind Sundar Pichai in Top CEOs Index

  Also Read - Sundar Pichai, Adena Friedman to Get 2019 Global Leadership Award

“We’ve never been ones to hold on to management roles when we think there’s a better way to run the company,” the co-founders said in their resignation letter.

“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,” said Page and Brin.

“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!” they wrote.

Tamil Nadu-born Pichai did his schooling in India and went to IIT-Kharagpur. In 2004, Pichai joined Google. In 2015, he was selected to be the next CEO of Google.