Alphabet shares rose a day after Google’s two co-founders said they would relinquish their executive positions at the technology giant’s parent company. Larry Page and Sergey Brin are stepping down as CEO and president, respectively, of Alphabet, an umbrella corporation created in 2015. Alphabet’s assets include drone company Wing and self-driving car company Waymo in addition to Google, the search engine Page and
Brin created as students at Stanford University in 1995. Sundar Pichai, who has been Google’s CEO since 2015, will now also lead Alphabet. The company isn’t filling Brin’s position as president. Google faces criticism and investigations from authorities in the U.S. and Europe about its privacy policies and the nature of its many-legged business. Dealing with those challenges now falls to Pichai. Shares of Alphabet rose 2% Wednesday.