Google co-founders Larry Page and Sergey Brin stepped down from their executive roles at its parent company Alphabet Inc. Google chief executive officer Sundar Pichai will take over as CEO of the parent company in addition to his current role. The co-founders will leave their respective roles as Alphabet's CEO and president but will remain on the company's board. The co-founders said they would remain "actively involved as board members, shareholders and co-founders" but added it was the "natural time to simplify our management structure". "We've never been ones to hold on to management roles when we think there's a better way to run the company. And Alphabet and Google no longer need two CEOs and a President," a joint letter from the the co-founders said. Pichai said, "I'm excited about Alphabet and its long term focus on tackling big challenges through technology. I'm looking forward to continuing to work with Larry and Sergey in our new roles." In 2015, Google had reorganized into the Alphabet holding company. Larry Page was named as CEO of Alphabet, and Sergey Brin as President. Pichai was appointed as CEO of Google. Page and Brin founded Google in a California garage in 1998. Page served as the first CEO before the company brought on Eric Schmidt to lead the company from 2001 to 2011. Page returned as CEO in 2011.