India-born Sundar Pichai has been named the new CEO of Google by the company's founders Larry Page and Sergei Brin as part of a re-organization exercise that created a mother company called Alphabet. Pichai, 43, a Chennai native who went to IIT Kharagpur and later to Stanford and Wharton, will take charge of a slimmed down Google. After this exercise, Larry Page will run a completely new company called Alphabet, a collection of Google companies including Life Sciences, which manufactures glucose-sensing contact lenses, and Calico.
The new mother company will include Google, Calico (which focuses on Longevity), X lab (new efforts like Wing, Google's drone delivery effort) and life sciences units, Ventures and Capital. Still, Google will remain the biggest piece in the newly created Alphabet.
Pichai's elevation means that two of the world's five largest companies by market cap are headed by Indian-origin people -- Pichai at Google ranked #4, and Microsoft, ranked # 5, is helmed by Satya Nadella. The elevation is a milestone for Indian-origin CEOs, of whom there are at least half dozen in Fortune 500 companies, including Indra Nooyi at Pepsi, Ajay Banga at Mastercard, and Sanjay Mehrotra at SanDisk. There is a good chance that the third ranked Berkshire Hathaway too could be headed by a PIO with Ajit Jain likely to succeed Warren Buffett. Apple and Exxon Mobil are ranked #1 and #2 respectively.