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Larry Page, Sergey Brin step down; Sundar Pichai promoted as Alphabet CEO

4Dec By AdityaNo Comments

News

Larry Page, Sergey Brin step down; Sundar Pichai promoted as Alphabet CEO

Google's India-born Chief Executive Officer Sundar Pichai will assume the leadership role at its parent firm Alphabet after the internet giant's co-founders Larry Page and Sergey Brin stepped down from its active management, making him one of the most powerful corporate leaders of the world. Page and Brin are stepping down as CEO and president, respectively, of Alphabet, the company announced on Tuesday. Pichai, 47, the current CEO of Google and a longtime executive at the company, will take over as CEO of Alphabet in addition to his current role. Considered as a significant shakeup in the Silicon Valley company, the shuffle comes at a time when Google is facing mounting scrutiny over its size, data privacy practices and potential impact on society. With Alphabet now well-esta...

BREAKING: Eric Schmidt Stepping Down as Chairman of Alphabet

22Dec By NitishNo Comments

News

BREAKING: Eric Schmidt Stepping Down as Chairman of Alphabet

AFP- Google's parent company Alphabet on Thursday announced that Eric Schmidt will step down as chairman, remaining on the board but shifting into a role as a technical advisor. "In recent years, I've been spending a lot of my time on science and technology issues, and philanthropy, and I plan to expand that work," Schmidt said in a release. After ten years as CEO and seven as Executive Chairman, I can’t wait to dive into the latest in science, technology, and philanthropy. I look forward to working with Larry and Sergey on our future here at Alphabet. https://t.co/nVnZqMEHoI— Eric Schmidt (@ericschmidt) December 21, 2017 Schmidt's stint as executive chairman is to end at a regularly-scheduled board meeting next month, according to Alphabet. Google founders Larry Page ...

Tech Lords Lost A Fortune In Today’s Wipeout

30Nov By RishabhNo Comments

BUSINESS

Tech Lords Lost A Fortune In Today’s Wipeout

[dropcap]T[/dropcap]he billionaire founders of the top tech giants- Facebook Inc, Amazon Inc, Netflix and Google's owner Alphabet Inc lost a fortune of $7.6 billion net on Wednesday as the Nasdaq 100 suffered the worst drop in the past three months. Among these the company that suffered the most was Facebook, whose founder Mark fell $2.6 billion alone as per the source Bloomberg. This drop also affected Amazon founder Jeff Bezos that caused him to slip below the $100 billion figure which he recently acquired, breaking Bill Gates record of 1999. The shares of Amazon.com Inc tumbled $2.5 billion off his net worth. The American entertainment company Netflix founder Reed Hastings fell $133 million while multinational conglomerate Alphabet Inc founder Larry Page and Sergey Brin around ...

Larry Page Backing Two Start-ups Making Flying Cars

10Jun By reutersNo Comments

News

Larry Page Backing Two Start-ups Making Flying Cars

Google co-founder Larry Page is backing two start-ups that are working on flying cars, including funding one of them with more than $100 million so far, Bloomberg said on Thursday, citing sources. Zee.Aero, into which Page has poured more than $100 million since it started in 2010, conducts test flights of its prototype at an airport hangar in Hollister, California, Bloomberg said. The start-up has a manufacturing facility on NASA's research center at the edge of Mountain View, the news agency said. Since last year, Page has also been funding another start-up, Kitty Hawk, that is working on a similar competing model, Bloomberg said. Kitty Hawk, which employs about a dozen engineers and has its headquarters about half a mile away from Zee.Aero, is working on "something that rese...

Nest CEO Tony Fadell Steps Down, to Remain Adviser to Google Co-founder Larry Page

5Jun By reutersNo Comments

News

Nest CEO Tony Fadell Steps Down, to Remain Adviser to Google Co-founder Larry Page

Tony Fadell, a well-known Silicon Valley executive who was once expected to play a central role in Alphabet's hardware efforts, has stepped down as chief executive of the search giant's Nest unit, the company said. Fadell will remain an adviser to Alphabet and Google co-founder Larry Page. He will be replaced at Nest, which makes smart thermostats and smoke detectors, by Marwan Fawaz, who had prior stints at Motorola Mobility and Charter Communications. Google bought Nest in 2014 for $3.2 billion, one of the company's largest acquisitions ever. In a blog post announcing his departure, Fadell said Nest's revenue is growing 50% a year and boasted that "the connected home went mainstream because of Nest." "We've created a hardware + software + services ecosystem, which is still in...

Sundar Pichai Received $100.5 million (Rs. 667 crores) Pay Package in 2015

30Mar By AdityaNo Comments

News

Sundar Pichai Received $100.5 million (Rs. 667 crores) Pay Package in 2015

According to the report in Bloomberg, Google CEO Sundar Pichai received a $100.5 million (roughly Rs. 667 crores) pay package in 2015. The salary mentioned in filing from parent company Alphabet on Tuesday. Pichai received $99.8 million in restricted stock that will vest in full by 2017. He also received a $652,500 salary. The stock award hasn't previously been disclosed in filings. The former co-founder of Google Larry Page awarded restricted shares valued at $199 million (roughly Rs. 1,321 crores), the largest grant ever given to a Google executive officer whose pay has to be reported in filings. Executive Chairman Eric Schmidt received $8.04 million (roughly Rs. 53 crores) for 2015, including a $1.25 million salary and $6 million (roughly Rs. 39 crores) cash bonus. Chief Finan...