Google said Friday that its plans to restructure the company under a new parent organization named “Alphabet” will finalize by the end of the day.
Google first announced the changes in early August, when it named Sundar Pichai the CEO of Google and announced its intentions to create Alphabet, a parent company led by Larry Page and Sergey Brin. Page described Alphabet as a “collection” of companies, under which Google will operate. That planned restructuring should be closed “after the close of business on October 2, 2015” the company said in an investor note on its site.
Google said that Google Class C Capital Stock (no voting rights) and Google Class A Common Stock (voting rights) will trade as Alphabet Class C Capital and Class A Common stock on October 5. The ticker symbols will remain GOOG and GOOGL, respectively.