Over 20 years after launching Google from the garage in Menlo Park, Larry Page and Sergey Brin, the founders of the Internet giant, who have become billionaires, are leaving their leadership positions in the parent company Alphabet, RG reported.

Page and Brin resign as CEO and president respectively. Sundar Pichai, Google’s current CEO and long-time CEO, will take over as Alphabet’s CEO in addition to his current position.

Pichai took over as CEO of Google in 2015 as part of a company restructuring program that led to the creation of Alphabet. Brin and Page have already made it clear that they will actively participate in the activities of Google as members of its board of directors, shareholders and co-founders. They also said they plan to hold regular consultations with Pichai.

Co-founders will continue to work on Alphabet's board of directors, CNN reported. They will also be able to maintain control over the company through voting (they own most of the group's shares). According to experts, this practically guarantees the two founders of the company the ability in the future to influence the direction of Alphabet.