A year after it surprised the world by announcing it would turn itself into tech holding company Alphabet, the company formerly known as Google is still working on its transformation.
The job of reshuffling its portfolio of long-shot bets into a handful of more distinct, standalone divisions — and deciding which, if any, to shed — is incomplete. Nor have the financial foundations for such a restructuring been put in place.
Founders Larry Page and Sergey Brin, along with chairman Eric Schmidt and chief financial officer Ruth Porat, are still trying to work out the business models for some of the bets, and to set financial targets, according to people familiar with the process.
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