A well-loved Google executive is heading back to the bench

Omid Kordestani, Google's well-loved Chief Business Officer, seems to be stepping down to become an adviser to Alphabet and Google, according to an SEC filing.

Kordestani was Google's highest-paid executive last year, when he was appointed Chief Business Officer. Prior to that, he spent some years in a holding pattern as part of Google's "bench" - an informal program the company runs to keep desired executives from leaving, even if they're not actively running any businesses at the company.

Kordestani joined Google as its "business founder" in 1999, a year after Sergey Brin and Larry Page founded the company.

A beloved figure at the company, Kordestani essentially built Google's business operations from scratch.

Kordestani came to Google from Netscape, where he had helped increase its revenue from $88 million to more than $200 million in 18 months. His leadership had a similar effect at Google.

In a press release sent out Monday afternoon, Google cofounder and CEO Larry Page renamed and reorganized the company. Google is now part of a subsidiary of a bigger company called Alphabet.

Alphabet will be a parent company that oversees the new initiatives Google has been launching as of late.

Larry Page is CEO of Alphabet. Sergey Brin, Google's other cofounder, is the president of Alphabet.

Sundar Pichai is now CEO of Google. Pichai has been running Google since October of last year.