Google’s New CEO, Expedia’s New CEO, Postmates’ Non-IPO
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 4 December 2019
⏱️ 32 minutes
🧾️ Download transcript
Summary
Alphabet’s co-founders, Larry Page and Sergey Brin, take a step back from their duties and hand the reins to Sunder Pichai. Meanwhile, Expedia’s CEO resigns after clashing with chairman Barry Diller. Bill Barker analyzes those stories, as well as Postmates’ missed opportunity to go public and Constellation Brands’ sale of Ballast Point Brewing. (Tangents include the awesomely-named “Kings & Convicts Brewing Company”, casting a Hallmark Channel Christmas movie, and podcasts about candle scents.)
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Transcript
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| 0:00.0 | This episode of Market Foolery is brought to you by NetSuite, the business |
| 0:03.0 | the business and an easy-to-use cloud platform. Download their free |
| 0:08.7 | guide seven key strategies to grow your profits today at NetSuite.com slash Fool. |
| 0:15.0 | It's Wednesday, December 4th. Welcome to Market Foolery. I'm Chris Hill with me in |
| 0:20.2 | studio. Bill Barker. Thanks for being here. Thanks for having. We've got |
| 0:24.5 | delivery news. We have a surprising deal in the beer industry. We're going to |
| 0:29.9 | start with the revolving door in the C-suite at a couple of companies. Let's start with the revolving door in the C suite at a couple of companies. |
| 0:34.4 | Let's start with Alphabet. |
| 0:35.8 | Co-founder Larry Page is stepping down as CEO. |
| 0:38.6 | He's going to be replaced by Sundar Pachai, who is the CEO of Alphabet's Google Division, also known as overwhelmingly |
| 0:47.3 | the most important division to Alphabet. |
| 0:50.5 | Sergei Brin, the other co-founder is giving up his title of President. |
| 0:54.0 | Both of them, both Brin and Page, are going to remain on the board. |
| 0:58.5 | And shares of alphabet are up about 2%. |
| 1:02.3 | That feels right to me just because Pachai's been more involved in the day-to-day operations |
| 1:11.0 | of the business than Larry Page has been and this is about as smooth a |
| 1:16.8 | CEO transition as someone could hope for. |
| 1:19.3 | Yeah in the world of major companies announcing CEO and President departures in one day, and founders |
| 1:26.9 | from operating, the operating side of the business, I'd say this is the smallest piece of news |
| 1:32.0 | you could probably have, you know, in that, as you say, |
| 1:36.1 | Pichai has been there for years basically doing the job that he's now going to get the more official title for running Google |
| 1:47.8 | which includes the YouTube operations is 98% of 99% of the revenue of the company. |
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