Alphabet Gets a New CEO: Co-Founder Page Is Out, Pichai Is In

Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) announced on Tuesday that effective immediately, Sundar Pichai, CEO of the technology behemoth's Google unit, will replace co-founder Larry Page as Alphabet's CEO. 

Alphabet headquarters. Image source: Alphabet.

Why the leadership change? Here's what Page and his co-founder Sergey Brin had to say in their letter that shared the news:

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Source Fool.com