Google 2011 Annual Report Download - page 18

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We want Google to become an important and signifi cant institution. That takes
time, stability and independence…
In the transition to public ownership, we have set up a corporate structure that
will make it harder for outside parties to take over or infl uence Google. This
structure will also make it easier for our management team to follow the long
term, innovative approach emphasized earlier…
The main effect of this structure is likely to leave our team, especially Sergey
and me, with increasingly signifi cant control over the company’s decisions and
fate, as Google shares change hands…
New investors will fully share in Google’s long term economic future but will have
little ability to infl uence its strategic decisions through their voting rights…
Our colleagues will be able to trust that they themselves and their labors of hard
work, love and creativity will be well cared for by a company focused on stability
and the long term…
As an investor, you are placing a potentially risky long term bet on the team,
especially Sergey and me. …Sergey and I are committed to Google for the
long term.”
XVI