Alphabet appoints Google CEO Sundar Pichai to board

Headed by Sundar Pichai, Google is one of the most valued companies in the world. But, they do not let it go to their heads as their slogan is simple, "Don't be evil".

Alphabet Inc said it appointed chief executive of its Google unit, Sundar Pichai, to its board.

The company's board also includes founders Larry Page and Sergey Brin.

Alphabet shares were slightly lower on Monday.

The Google parent has reported a quarterly profit of USD 3.5 billion, with a massive fine by the European Commission biting into earnings.

The technology giant on Monday reported that revenue grew to USD 26 billion in the recently ended quarter, and that profit would have tallied nearly USD 6.3 billion if it weren’t for a USD 2.74 billion antitrust fine levied on search engine Google by the European Commission.

Revenue was up 21 percent from the same quarter last year, according to earnings figures. “We're delivering strong growth with great underlying momentum, while continuing to make focused investments in new revenue streams,” said Alphabet chief financial officer Ruth Porat.

Alphabet shares slid about 2.9 percent to $969.03 in after-market trades that followed release of the earnings figures.​