Google co-founders Larry Page and Sergey Brin have announced they are stepping down from their roles as CEO and President of Alphabet respectively. Google CEO Sundar Pichai will now take over CEO of Alphabet in addition to his role at the top of its most famous asset.

In a blog post, Page and Brin said:

“With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it’s the natural time to simplify our management structure. We’ve never been ones to hold on to management roles when we think there’s a better way to run the company. And Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet.”

The two founders of the trillion-dollar Alphabet will retain their places on the board. Pichai added:

“I want to be clear that this transition won't affect the Alphabet structure or the work we do day to day. I will continue to be very focused on Google and the deep work we’re doing to push the boundaries of computing and build a more helpful Google for everyone. At the same time, I’m excited about Alphabet and its long term focus on tackling big challenges through technology.”

Page and Brin took a step back of sorts when they helped re-structure Google in 2015, creating Alphabet as a holding company for Google and the rest of its assets and acquisitions. Since then, Google has launched its Pixel range of smartphones and moved into the smart home business with its Home and Nest brands.

As a software company it dominates the smartphone business with its Android platform that outsells Apple’s iPhones worldwide via partnerships with other handset manufacturers. But the company is seemingly investing a lot in its AI assistant, Google Assistant, and its integration with other no-Google hardware.

Pichai,, among other things, is tasked with bringing this success to Google so it is significant that he know oversees Alphabet’s entire operation.