- Shares of Alphabet dropped over 5% on August 5 following Jeff Dean's departure announcement
- Jeff Dean is stepping down after 27 years with Google, Alphabet's parent company
- Dean and Sanjay Ghemawat will start an independent public benefit corporation
Shares of Alphabet tumbled more than 5% during the trading session on Wednesday, August 5 after Google's parent announced that its chief scientist Jeff Dean is stepping down after serving 27 years in the company.
In a blogpost on Wednesday, Google said, "after an incredible 27-year run, Jeff Dean is at a moment where he wants to try something new, and we're excited to support him in that. Jeff and Google Senior Fellow Sanjay Ghemawat are launching an independent public benefit corporation to accelerate discoveries in ML, science, and engineering."
In addition to Dean's departure, Alphabet announced changes to Google's DeepMind teams.
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