On Aug. 10, Google announced plans to create a new public holding company, Alphabet Inc. and a new operating structure to increase management scale and focus on its consolidated businesses.

Under the new operating structure, its main Google business will include search, ads, maps, apps, YouTube and Android and the related technical infrastructure (the "Google business"). Businesses such as Calico, Nest, and Fiber, as well as its investing arms, such as Google Ventures and Google Capital, and incubator projects, such as Google X, will be managed separately from the Google business.

In an announcement about the changes — which you can read here (https://abc.xyz) — Larry Page, who cofounded Google with Sergey Brin, had this to say: "Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main internet products contained in Alphabet instead. What do we mean by far afield? Good examples are our health efforts: Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity). Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related."

Page will be CEO of Alphabet with Brin serving as president. Sundar Pichai will serve as CEO of Google.