Google par­ent firm Al­pha­bet cod­i­fies do­ing the right thing

The China Post - - WORLD BUSINESS -

Google’s new par­ent com­pany hit the stock mar­ket on Mon­day with an inked credo to “Do the right thing” — a spin on the found­ing prin­ci­ple “Don’t be evil.”

“Em­ploy­ees of Al­pha­bet and its sub­sidiaries and con­trolled af­fil­i­ates should do the right thing — fol­low the law, act hon­or­ably, and treat each other with re­spect,” the com­pany said in a code of con­duct posted online.

Al­pha­bet sub­sidiaries in­clude Google, Nest Labs, and Google X labs de­voted to big-vi­sion new tech­nolo­gies such as self-driv­ing cars.

Al­pha­bet called on em­ploy­ees to also fol­low codes of con­duct es­tab­lished by sub­sidiaries for which they work.

“We rely on one another’s good judg­ment to up­hold a high stan­dard of in­tegrity for our­selves and our com­pany,” the Al­pha­bet code said.

Google’s motto of “Don’t be evil” took hold in­for­mally not long af­ter the Cal­i­for­nia-based In­ter­net search com­pany was founded in late 1998 and went on to be in­cluded in reg­u­la­tory fil­ings ahead of its stock mar­ket de­but in 2004.

Al­pha­bet — the new par­ent of the Google search unit and a va­ri­ety of other sep­a­rate tech­nol­ogy di­vi­sions — trades un­der the old GOOG and GOOGL sym­bols on the Nas­daq ex­change.

Google’s new cor­po­rate struc­ture took ef­fect on Fri­day, with shares of “Al­pha­bet” hit­ting the stock mar­ket on Mon­day.

Al­pha­bet shares trad­ing un­der GOOG were up slightly more than two per­cent to US$640.98 as the close of the mar­ket neared on Mon­day.

Google in Au­gust an­nounced its plan to re­shape un­der newly formed par­ent.

The move gives the tech gi­ant more abil­ity to fo­cus on its core busi­ness, while of­fer­ing star­tu­p­like flex­i­bil­ity to long shot, trail­blaz­ing projects.

Al­pha­bet is the cor­po­rate par- ent, over­see­ing the Google unit for search and a hand­ful of other op­er­at­ing firms cre­ated for projects in health, In­ter­net de­liv­ery, in­vest­ment and re­search.

While Google is best known as the dom­i­nant player in In­ter­net search, it has launched a va­ri­ety of projects in re­cent years that are marginally re­lated at best to its core op­er­a­tion.

The projects in­clude self-driv­ing cars, smart spec­ta­cles “Google Glass,” In­ter­net bal­loons, drones, health care, Google TV, mo­bile pay­ments, home au­to­ma­tion and its Google+ so­cial net­work, among oth­ers, none of which has be­come suc­cess­ful.

Chief ex­ec­u­tive Larry Page holds the same po­si­tion at the new par­ent group, with ex­ec­u­tive chair­man Eric Sch­midt do­ing the same.

The Google unit, headed by cur­rent com­pany vice pres­i­dent Sun­dar Pichai, in­cludes search, ads, maps, YouTube, An­droid and re­lated tech­nol­ogy in­fra­struc­ture.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.