It has been couple of months back in August when Google announced that in restructuring process, they will open a parent company called Alphabet. The reason behind the move was that, it will allow the different parts of their businesses to run independently.
Now it is official, that Google is a subsidiary of ALPHABET.
As a result of this, each stock of google will be now automatically converted to Alphabet stock.
Here is the full official statement released
Google Proceeds With Implementation of New Operating Structure
Google Inc. announced today that, pursuant to its previously announced plans to create a new public holding company, Alphabet Inc. (“Alphabet”), by implementing a holding company reorganization (the “Alphabet Merger”), it expects that the Alphabet Merger will close after the close of business on October 2, 2015. Google anticipates that shares of Google Class C Capital Stock and shares of Google Class A Common Stock will begin trading as Alphabet Class C Capital Stock and Alphabet Class A Common Stock, respectively, on the NASDAQ Global Select Market on October 5, 2015. Shares of Alphabet Class C Capital Stock and shares of Alphabet Class A Common Stock will continue to be traded under the same ticker symbols under GOOG and GOOGL, respectively.
Update: The Alphabet merger is now effective. For more information on the merger, please see Alphabet’s Form 8-K filed on October 2, 2015.
Google’s business which includes Search, YouTube, Maps etc. will all be now a subsidiary of Alphabet.Moreover, each of these will have their own different CEO.