Google will restructure and reemerge as Alphabet today

Image: AP Photo/Marcio Jose Sanchez
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Today’s the day. Google is expected to complete a radical restructuring that will place the search giant under a new parent company named Alphabet.

As part of this major overhaul, Sundar Pichai will officially become CEO of Google. The company’s cofounders, Larry Page and Sergey Brin, will serve as CEO and president of Alphabet, respectively.

Google first announced the reorganization on Aug. 10. Under this new structure, a number of companies, including Google, will operate as Alphabet subsidiaries, each with their own CEO. They include: Google X, Google Fiber, Nest, investing arms Google Capital and Google Ventures, and biotech firms Calico and Life Sciences.

The process is expected to complete after markets close today. If all goes accordingly, Google class A and class C shares will begin trading Monday as Alphabet class A and class C shares, respectively, under their existing tickers.