Google co-founders Larry Page and Sergey Brin are stepping down

Page and brin are stepping down from their roles as CEO and President respectively at Google’s parent company, Alphabet.

According to CNN, Sundar Pichai will become CEO at Alphabet in addition to his current role as CEO at Google.

The two will remain on the board of Alphabet and retain voting control over the business. This means they will still be able to control the company’s direction, just without their titles.

In a Google Blog post on Tuesday, they announced the news. They wrote:

“While it has been a tremendous privilege to be deeply involved in the day-to-day management of the company for so long, we believe it’s time to assume the role of proud parents—offering advice and love, but not daily nagging!

“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. He will be the executive responsible and accountable for leading Google, and managing Alphabet’s investment in our portfolio of Other Bets.

“We are deeply committed to Google and Alphabet for the long term and will remain actively involved as Board members, shareholders and co-founders. In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!”