Google co-founders Larry Page, Sergey Brin step down as execs of parent Alphabet

Google co-founders Larry Page and Sergey Brin said Tuesday they will step down from their roles at the tech firm’s parent company, Alphabet.

Google CEO Sundar Pichai will retain his responsibilities and also serve as Alphabet CEO, replacing Page. Brin left his role as Alphabet’s president.

“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,” Page and Brin said in a letter explaining their decision. “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.”

A LETTER FROM LARRY AND SERGEY: READ HERE

Page and Brin will still serve on Alphabet’s board of directors and remain active shareholders in the company.

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The two executives founded Google in 1998 and have served in various roles at the company over the last two decades. Page and Brin are among the world’s richest businessmen, with each possessing a net worth of more than $50 billion, according to Forbes. The duo created Alphabet in 2015 to separate Google's core business from other initiatives, such as the self-driving car unit Waymo.

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The reshuffling occurred as the Google parent and other leading tech firms face multiple federal probes regarding their business practices and potential antitrust violations. President Trump has also accused Google of exhibiting political bias against conservative voices -- a charge the company has repeatedly denied.

Meanwhile, Pichai's leadership at Google has faced scrutiny amid mounting unrest among the company's employees. Workers have questioned Google's policies on workplace harassment and recently accused the firm of attempting to install surveillance software on their computers to combat labor-related gatherings.