Google's headquarters in Silicon Valley
Google's headquarters in Silicon Valley iStock

Google co-founders Larry Page and Sergey Brin announced on Tuesday that they are stepping down from their roles within the parent company, Alphabet.

Google CEO Sundar Pichai will stay in his role and also become CEO of Alphabet, reported The Associated Press.

Page, who had been serving as CEO of Alphabet, and Brin, who had been president of Alphabet, will remain on the board of the company.

Pichai has been leading Google for more than four years. Brin and Page have been noticeably absent from company events in recent months.

Brin and Page announced the news in a Google blog post, saying the company has "evolved and matured" in the two decades since its founding.

"Today, in 2019, if the company was a person, it would be a young adult of 21 and it would be time to leave the roost," they wrote.

Page and Brin promised to stay actively involved as board members and shareholders, and lauded Pichai for his leadership of the company.