In a program on CNBC, Jon Steinberg, Daily Mail North America CEO, and the “Squawk Alley” team discussed the ascension of Sundar Pichai, former head of Android in Google Inc (NASDAQ:GOOGL) and executive Vice President. As a result of a latest management shakeup in Google Inc (NASDAQ:GOOGL), Pichai has been promoted to number 2 after Google’s CEO. Pichai is now head of Google Inc (NASDAQ:GOOGL)’s apps, Android, search and ads. This makes him practically the boss of every important aspect of Google’s core business.
Pichai had a key role to play in the launch of Google Inc (NASDAQ:GOOGL)’s Chrome browser in 2008. He worked on Google Inc (NASDAQ:GOOGL) Toolbar and served as the product manager for it. The source said that Page was feeling that the company is becoming less innovative, so he had to cut short some of his own responsibilities in order to get time to focus on more strategic aspects of future of the company instead of minute details of ongoing projects.
Jon Fortt said that this is one of the most stunning promotions he has witnessed in the Silicon Valley. He thinks that Pichai is now like a chief operating officer at Google Inc (NASDAQ:GOOGL) because every core business is now in his hands except Youtube. Google Inc (NASDAQ:GOOGL)’s projects regarding browser and Android were under supervision of Pichai in the past.
Steinberg thinks that Larry Page will now focus on getting new streams of revenue for Google after handing over grueling jobs to Pichai. He is a driven entrepreneur and made this move after a lot of contemplating. This decision, Steinberg thinks, is a good news for investors.
Fortt said that Google Inc (NASDAQ:GOOGL) has now got a complete group of young super leaders running the company. Apart from Pichai, there are many other young people in Google who are appointed in different departments.
David Tepper’s Appaloosa Management hold around 600,000 Google Inc (NASDAQ:GOOGL) shares.