Google has revealed that it will now run under a newly formed company called Alphabet.
The firm’s co-founder Larry Page revealed the news in a recent blog post, stating that Google will retain some of its businesses including apps, YouTube and Android.
Other research divisions and the smart home business Nest will now run under Alphabet.
Page said in the blog post: “Our company is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet.
“I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President.
“This new structure will allow us to keep tremendous focus on the extraordinary opportunities we have inside of Google."
Sergey Brin, the second co-founder of Google, will become the president of Alphabet, while Eric Schmidt, the current chairman for Google, will become executive chairman of the holding company.
Page also revealed that Alphabet Inc. will now replace Google Inc. as the publicly traded entity and all shares of Google will now automatically convert into the same number of shares of Alphabet.
But why the name Alphabet? Page explained that the name was chosen because ‘it means a collection of letters that represent language’.
In other news, cloud advisory firm Cloud Sherpas has helped supermarket Waitrose implement Google Apps for Work into its business.
Waitrose has rolled out the app service across 340 stores for 65,000 employees to help improve communication across the business.
Cheryl Millington, IT director at Waitrose, added: “We wanted a modern technology that would fit with our brand and our style of working with our customer and our employees.
“Modern Waitrose is all about changing the traditional supermarket business into a business that’s ripe for a different, modern time.”