Alphabet CEO Larry Page and President Sergey Brin are stepping down

• Alphabet CEO Larry Page and President Sergey Brin are stepping down from the company, the pair announced Tuesday.
• Page, who cofounded Google, will be succeeded by current Google CEO Sundar Pichai.
• Pichai will serve as CEO of both Alphabet and Google.
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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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