“At its most basic level, Google is just renaming itself “Alphabet” and creating a subsidiary business called ‘Google.’ The new Google will continue as the consumer-facing brand and will run all the products you’ve heard of, including search, Android, YouTube, Maps and Google Apps”, the CNN report clarifies.
There is now even a new code of conduct for the employees, and apparently, it is the first time when Google has changed it after 2004. A total of 106 funds opened new positions in Google Inc and 691 increased their holdings. Alphabet begins trading on Monday using their former avatar’s ticker symbols of GOOG and GOOGL. “But if they start bringing cats to work, there’s gonna be trouble with a capital T”.
Instead, its new corporate code of conduct entreats employees to “do the right thing follow the law, act honorably, and treat each other with respect”.
Post restructuring, Google is now the wholly owned subsidiary of the new parent company, Alphabet.
Google aspired to be a different company with its earlier motto of “Don’t be evil“, but critics claim the company has not always lived up to its motto, according to The WSJ.
Moreover, there are only slight changes in the logo, which we observed a few week ago, but nothing else.
In most cases, not being evil and being honourable are coincident, but going ahead, if being honourable means being ever more answerable to investors and shareholder expectations then the lines could blur.
“Engineers who once longed to work for Microsoft came to see it as the Darth Vader of software, the dark force, the one who didn’t play fairly”, David A. Vise wrote in “The Google Story” in 2008.
Google announced the overhaul of its structure in August, aimed at separating its core search and online ad business from the so-called “moonshot” ventures such as driverless cars, glucose-monitoring contact lenses and high-altitude balloons that provide Internet in remote areas.
Seth Wenig/ASSOCIATED PRESS Google co-founder Larry Page becomes Alphabet CEO. With this move, Google will shed all of its research projects, which aren’t money makers, and will concentrate on its Internet-based businesses, like search, which is a huge money maker. Short and sweet, it was ideal in headlines for critical stories about the company’s alleged monopolistic behavior, controversial privacy practices, and presence in China, among others. Generally, it is still “Do the right thing”, such as following the rules, treating others with respect and acting with honor. Each business, including Google, will have its own CEO.