Google's reorganization underneath Alphabet is nearly complete. Today the company filed an investor note announcing that its restructuring will be official once markets close today. Google's shares will convert to Alphabet shares beginning Monday, though the stock ticker symbols will remain the same.
As previously announced in August, Google co-founders Larry Page and Sergey Brin will oversee Alphabet, with Sundar Pichai leading the core Google business — now separated from the "moonshot" projects and other ambitious initiatives (like Life Sciences) that each have their own place under the Alphabet holding company. The restructuring will give Google more room to experiment outside of search and advertising while simultaneously appeasing investors; Google's financial results will be reported separately from other Alphabet businesses that are focused on experimental work.
"In the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant," Page wrote in August. "From the start, we’ve always strived to do more." Today, Alphabet officially sets off on that mission.