Google

Larry Page and Sergey Brin are stepping down as CEO and president, respectively, of Google parent company Alphabet. The move caps more than two decades during which the pair have shepherded the one-time startup they founded in a Silicon Valley garage. Pichai, who has been Google’s CEO since 2015, will now also head up Alphabet. The company isn’t filling Brin’s position as president.

Speculation swirled at the beginning of the week that a deal might be imminent. Premarket trading of shares of San Francisco-based Fitbit Inc. were briefly halted before the acquisition was announced.

Following a lawsuit, Google agreed to pay owners of an original Pixel or Pixel XL who have encountered microphone issues with the first-generation phones if they were bought before Jan. 4, 2017.