Larry Page and Sergey Brin, co-founders of Google, have announced they are stepping down from running the online giant’s parent company Alphabet.
In a blog post on Tuesday, the pair announced their departure from Alphabet.
A joint letter said they would remain “actively involved as board members, shareholders and co-founders” but said it was 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,” their letter said.
Google’s CEO Sundar Pichai will become Alphabet’s CEO too, a statement said.
Alphabet was created in 2015 as part of a corporate restructuring of Google, which Mr Page and Mr Brin famously founded in a California garage in 1998.
The parent company was intended to make the tech giant’s activities “cleaner and more accountable” as it expanded from internet search into other areas like self-driving cars.
The pair moved from Google to Alphabet when it was formed – saying they were making the jump to focus on starting new initiatives.