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Google officially announces a new re-structuring under the name “Olfabt” Alphabet
Announced Google officially on Monday evening for its new company “Olfabt” Alphabet in a big step for a comprehensive restructuring of its business, which Stnazavi under its umbrella all its companies and projects, led by Google. The announcement was made through a letter addressed to Larry Page, Google co-founder, yesterday to investors and posted on the official Google Blog and issued Olfabt company site new.
And Larry Page said in his letter: “Our company is doing well today, but we believe that Bmekdrona make them more organized and transparent. So we decided to create a new company we call “Olfabt” Alphabet Inc. I am happy that I manage my capacity as the chief executive, and with the help of my partner Sergey Brin, in his capacity as president. ”
And he gave Larry Page also a detailed explanation of the new structure, saying: “The Company” Olfabt “Alphabet is a variety of the largest companies of course, is Google Inc.. Google is the new company will be a little smaller than it is now, and that Stnazavi under the umbrella of “Olfabt” along with a number of other companies with a little far from the main terms of reference of Internet products. ”
He added: “We believe that this new step will allow us room to manage our businesses better, so we work separately and projects, especially those that are not Almtertbth together. The new structure centered around the concept of creating and running thriving companies across prominent and independent leaders. Our approach in general and supports that we have a strong chief executive of the management and operation of each company, with this course, and Judy and I Sergei under the act when needed. We will strictly manage the financial allocations and make sure that each company are doing well. As we will make sure that we have a wonderful chief executive of each company, and we will determine their compensation. Moreover, we are planning with this new structure to provide separate financial reports for the fourth quarter, which will provide financial reports to company Google separately from the rest of the companies that fall under the umbrella of “Olfabt”.
And looks forward Google of this new step to achieve more ambitious projects, and the adoption of a long-term look, and enable entrepreneurs and distinctive companies of prosperity, investment and the expansion of the range of opportunities and resources available, and to improve transparency and supervision, and make Google better by the larger focus, and thus improve the lives of the greatest number of people.
It is worth mentioning that it will replace Google Inc. B Alphabet Inc. In the public trading in the stock market, and thereby become a Google subsidiary wholly owned subsidiary of Alphabet. Trading will continue to own the shares of Google workers trading on the Nasdaq under the symbol GOOGL and GOOG.Viewing:-129
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