Google took everyone by surprise when it announced yesterday that a new holding company, named Alphabet, will manage Google and all of its other products.

Declaring that Google is “not a conventional company and we never intended to become one”, Page explained that Google thrives on making “smaller bets on areas that might seem very speculative or even odd compared to our current businesses”.

Page will be the CEO and Brin will serve as President of Alphabet.

Google Inc. said its new chief financial officer – Ruth Porat that he will hold the same title for both Google and Alphabet.

While its eponymous search engine, along with the YouTube video website and Android operating system will remain under the Google brand, newer businesses – such as its research and investment arms – will work as separate parts of the new conglomerate.

Mr. Page emphasized that they chose the Alphabet because it means a collection of letters that represent language, the most important innovation of humanity. Page is bucking that trend, betting that he and Sergey Brin can invest Google’s vast profits more effectively than the broader market can.

He has worked at Google – which was founded in 1998 – since it went public in 2004, most recently as the senior vice president of product. The tech company announced on Monday that it would rebrand itself as Alphabet – a new holding company whose largest wholly owned subsidiary will be Google.

“Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related”, he said. Companies that will move to direct control of Alphabet – essentially in equal rank to Google – will include Google Fiber, Google Capital and Google X, as well as recent acquisitions such as Nest, Calico and Life Sciences. “In general, our model is to have a strong CEO who runs each business, with Sergey and me in service to them as needed”, Page said in his blog post. The two classes of shares will continue to trade on the Nasdaq as GOOGL and GOOG. Some of those tech companies have started to give more clarity to their fast-growing new businesses.

Perhaps it was inevitable given the myriad business interests and technology fields Google has been so eager to get its hands on.

The German carmaker told WirtschaftsWoche, the German business magazine, that it will be “necessary to examine the legal trademark implications” of the name of Google’s new parent company.

Eric Schmidt will be the executive chairman at Alphabet, and Sundar Pichai is taking over as Google’s CEO.