On Wednesday morning Google founders Larry Page and Sergey Brin announced that they would be taking a step back at Alphabet. Alphabet, if you recall, was created in 2015 and Google is part of it. In a letter posted on official Google blog, Page said that he was stepping down from his post of CEO at Alphabet. In the same letter, Brin announced that he was leaving the post president at the group. The new CEO at Alphabet is Sundar Pichai, a Madurai-born IITian who has been with Google for the last 15 years. Pichai will also continue to be the CEO at Google.

The announcement by Google founders was made in a letter, in which they talked of Google’s journey so far and why it was the right time for them to make the move. In the same blog post, parts of Pichai’s letter to employees were also included. Here are the key bits from the two letters.

Google is mature adult now, write founders

Today, in 2019, if the company was a person, it would be a young adult of 21 and it would be time to leave the roost. While it has been a tremendous privilege to be deeply involved in the day-to-day management of the company for so long, we believe it’s time to assume the role of proud parentsoffering advice and love, but not daily nagging!

Why Larry Page is no longer CEO and Sergey Brin no longer president

With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it’s 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. Going forward, Sundar will be the CEO of both Google and Alphabet.

What will Page and Brin do next?

We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders and co-founders. In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!

Why Sundar Pichai as CEO of Alphabet?

Sundar brings humility and a deep passion for technology to our users, partners and our employees every day. He’s worked closely with us for 15 years, through the formation of Alphabet, as CEO of Google, and a member of the Alphabet Board of Directors. He shares our confidence in the value of the Alphabet structure, and the ability it provides us to tackle big challenges through technology. There is no one that we have relied on more since Alphabet was founded, and no better person to lead Google and Alphabet into the future.

Sundar Pichai writes he will keep working with Page and Brin

The good news is I’ll continue to work with them — although in different roles for them and me. They’ll still be around to advise as board members and co-founders.

Will Google’s business be affected?

I want to be clear that this transition won’t affect the Alphabet structure or the work we do day to day. I will continue to be very focused on Google and the deep work we’re doing to push the boundaries of computing and build a more helpful Google for everyone.