Larry Page and Sergey Brin on 3rd of December left Alphabet saying that both the cofounders of technology giant want to spend more time with their family. Actually, that is not the complete reason. Here is why Larry Page and Sergey Brin left Alphabet.
From 2017, Google and Facebook both have been facing a lot of issues of data protection in the developed countries where their governments are more serious about the data of their citizen.
Alphabet is a parent company of Google. Hence, Alphabet is also responsible for whatever happens related to data protection and misleading ads.
Both the co-founders handed Google to Sundar Pichai (also current Cheif Executive Officer) in 2015 and changed the structure of the company and made a parent company Alphabet Inc.
5 Reasons Why Larry Page and Sergey Brin Left Alphabet:
1. Not a Challenging Task:
According to Stuff, they handed over to Sundar Pichai because being the chief executive of Google was really a boring job for them. Google does a lot of things in business but their main business is search engine and there is no player near to Google. So, there was no challenging task for them.
2. Stake Holding:
Even after stepping down and leaving the company, both the cofounders have not sold their stake from the company.
Billioniners holds more than 20 million shares of Alphabet that makes their network more than $55 billion each.
3. Trust on Sundar Pichai:
From 2015 to present date, Sundar Pichai managed Google efficiently. This thing made both the cofounder to make Sundar Pichai, the CEO of Alphabet.
4. Antitrust in the European Union:
European Union has found that the search engine giant uses the information of users illegally.
From 2017 to 2019, Google’s antitrust issue with the EU has increased a lot. Google was fined $8.8 billion in the past two years.
Sundar Pichai had not been handled with the issue effectively and that’s why parent company has to take responsibility. That was managed by Larry Page and Sergey Brin.
5. Personal Reasons:
Both the co-founders have spent more than 20 years for building one of the greatest companies in the world.
At the age of 46, they have achieved a lot in their life. And it was the right time to give responsibility to a good leader Sundar Pichai.
Spending quality time with family is one of the most essential things. Being the CEO and president of Alphabet has a bunch of responsibilities.
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