Google co-founders Larry Page and Sergey Brin are stepping down from their respective roles as CEO and president of Google’s parent company, Alphabet, but will remain on the firm’s Board of Directors.

Google CEO Sundar Pichai will take on the role of Alphabet CEO. He said: “I’m excited about Alphabet and its long term focus on tackling big challenges through technology. I’m looking forward to continuing to work with Larry and Sergey in our new roles. Thanks to them, we have a timeless mission, enduring values, and a culture of collaboration and exploration. It’s a strong foundation on which we will continue to build.”

Page and Brin wrote a letter about the transition on the Google blog. In it they said:

“Today, in 2019, if the company was a person, it would be a young adult of 21 and it would be time to leave the roost. 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.”

Pichai studied engineering at the Indian Institute of Technology where he was awarded an Institute Silver Medal. He holds a masters degree from Stanford University and an MBA from the Wharton School.

He joined Google in 2004 and helped lead the development of Google Toolbar and then Google Chrome. In 2014 he was appointed to lead product and engineering for all of Google’s products and platforms. He became Google’s CEO in August 2015, and joined the Board of Directors of Alphabet, Googles parent company, in July 2017.