Alphabet CEO Larry Page and President Sergey Brin are stepping down

Sergey Brin and Larry PageRalph Orlowski/Getty Images

Google CEO Sundar Pichai will take over as CEO as Alphabet, Google's parent company, while maintaining his role as CEO of Google, the company announced Tuesday.

Pichai will succeed Alphabet CEO Larry Page, who cofounded Google in 1998. Sergey Brin is also stepping down from his role as president of Alphabet.

Pichai and Page announced the shift in leadership in a blog post, adding that Alphabet and Google "no longer need two CEOs and a President."

This is a developing story. Check back for updates.

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