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Google Creates a New Company

Google created a new company called Alphabet on Monday, saying it wants to separate its central business and long-term plans. Google's founders, Larry Page and Sergey Brin, are managing the new venture, which will be a holding company that includes subsidiaries like Google Inc., Google Ventures, and Google X. Each will each be controlled by a CEO and Sundar Pichai, who is currently the senior vice-president of products, will run Google Inc. Alphabet will replace Google Inc. as the publicly traded entity.