Alphabet Inc., the parent company of Google LLC, said Tuesday that Google co-founders Larry Page and Sergey Brin will step down as Alphabet CEO and president, respectively.

Google CEO Sundar Pichai will take over as CEO of Alphabet in addition to his current role.

"Alphabet and Google no longer need two CEOs and a President," Page and Brin wrote in a joint letter posted on Google's blog. "We've never been ones to hold on to management roles when we think there's a better way to run the company."

Page and Brin will continue to serve on Alphabet's board of directors, according to a statement from the company.

==Kyodo

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