Google has announced the new corporate structure with Alphabet as parent company. On October 2, Google has completed the transformation process into a holding company called Alphabet. With this transformation, a new code of conduct has been posted by Alphabet on its website. Alphabet’s new code of conduct does away with the iconic “Don’t be evil” slogan which was first revealed in the year 2004 when the company went public. It was used as a showcase of company’s independence.
Alphabet’s code does not include that phrase and says employees of Alphabet and its subsidiaries “should do the right thing – follow the law, act honorably, and treat each other with respect.” Alphabet has opted for a more conservative approach. While Google’s code of conduct spans pages and includes idiosyncrasies about drinking at work and taking pets to office, Alphabet’s new code of conduct says avoid conflicts of interest, maintain integrity and obey the law.
Alphabet will be the corporate parent overseeing the Google unit for search and other operating firms created for projects in health, internet delivery, investment and research.
Alphabet’s new code of conduct has been put up by Alphabet on its website saying, “Employees of Alphabet and its subsidiaries and controlled affiliates (“Alphabet”) should do the right thing – follow the law, act honorably, and treat each other with respect.”
Alphabet has dropped ‘evil’ to adopt a new corporate philosophy based on the commission of ‘good. Alphabet’s new code of conduct ‘do the right thing’ motto is the new principle. Starting now, Google’s class A shares and Class C shares will automatically convert the same number of Alphabet class A shares and class C shares for trading on the Nasdaq.
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