Google’s co-founders, Larry Page and Sergey Brin announced on August 10th that the company is to be renaming and reorganizing itself as a new conglomerate company that will be Alphabet.

In short, Alphabet will act as parent organization for all of Google’s acquired endeavors, including Calico, its human longevity project, Fiber, its high-speed internet service, Nest, a smart-home-devices company and more. Google itself will continue to exist as we know it, centering on the search engine aspect of the company and operating under that particular umbrella.

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Essentially, the reasoning behind such a business venture is that Google prides itself in its adaptive, fluid nature. In order to thrive in the technology industry, one must embrace the uncomfortable—seek change. Google’s procurement of numerous projects speaks to Page and Brin’s audacious mentalities, and this changeover is a reflection of their auspicious business model.

The structure of Alphabet will be similar to that of the current layout of Google’s operation. Longtime Google employee, Sundar Pichai will take over as CEO of the Google branch, with each other branch having a CEO that fits its specific requirements and experience. “Our model is to have a strong CEO who runs each business, with Sergey and (sic) I in service to them as needed,” Page wrote regarding the new structure.

Page and Brin themselves will take over as CEO and President of the entire syndicate. With this configuration, the pair hope to develop each branch of Alphabet in their own unique ways. “The whole point is that Alphabet companies should have independence and develop their own brands,” said Brin of the transition. With this in mind, it is important to the note variety of brands that Alphabet will encompass. In addition to the aforementioned companies, Alphabet will take on a life sciences branch, investment branches, and a drone delivery branch.