(CNBC) — Who would've expected Google to become anyone's subsidiary? But that's what happened Monday.
Google on Monday announced a new corporate operating structure, creating a new company, Alphabet, that will count the Internet giant as a subsidiary. Sundar Pichai, currently a senior vice president in charge of Internet businesses, will become CEO of Google. Current chief executive Larry Page will take the same post at Alphabet.
"This new structure will allow us to keep tremendous focus on the extraordinary opportunities we have inside of Google," Page wrote in a blog post Monday.
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