American corporation Google will become an affiliated company of the emerging holding company called Alphabet. This was reported by one of the Google founders, Larry Page.
Google will remain the major company in Alphabet. Along with that, it will undergo organizational realignment that will exclude the divisions non-specializing in Internet business. These new companies will also form a part of Alphabet.
As an example, L. Page mentioned such companies as Life Sciences, which designs contact lenses with glucose sensor, and Calico, which conducts longevity researches.
Page will become CEO of the new holding unit while Google co-founder Sergey Brin will serve as President of Alphabet. The holding will also include X lab company developing unmanned delivery. Google shares quoted on stocks will be replaced by similar securities of Alphabet. Previous shares will be automatically converted into the same amount of the new ones with reservation of all rights.
