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(SAN FRANCISCO) — Google co-founders Larry Page and Sergey Brin are stepping down from their roles within the parent company, Alphabet.

Google CEO Sundar Pichai will stay in his role and also become CEO of Alphabet.

Page, who had been serving as CEO of Alphabet, and Brin, who had been president of Alphabet, will remain on the board of the company.

Pichai has been leading Google for more than four years. Brin and Page have been noticeably absent from company events in recent months.

Brin and Page announced the news in a Google blog post Tuesday, saying the company has "evolved and matured" in the two decades since its founding.

"Today, in 2019, if the company was a person, it would be a young adult of 21 and it would be time to leave the roost," they said.

Page and Brin started the search giant in 1998 in Silicon Valley.