Along with the transformation of Google into Alphabet, a holding company, is the establishment of a new code of conduct. The new code aims to reach all of its employees, subsidiaries and controlled affiliates to be ethical and professional at work. Disciplinary action shall be imposed for any violation of the code, according to Alphabet.
The Board of Alphabet stated in Investor Relations that the specific goals of the new code of conduct are to follow the law, act honourably, and treat each other with respect. The Board also mentioned in its page that all employees under Alphabet will be subjected to follow, and failure to obey such rules will face disciplinary action up to termination. Any exception or waivers shall be approved by the Board members.
More so, Google's own code of conduct includes specific details such as drinking of alcohol at work and taking pets in the office, while Alphabet's own code of conduct simply includes avoiding conflicts, maintaining integrity, and obeying the law, according to The Wall Street Journal. It seems that Googles previous code is much longer than Alphabet's due to its specific details.
In addition, Investor Relations revealed Alphabet's new code of conduct which is to Avoid Conflicts of Interest, Ensure Financial Integrity and Responsibility, and Obey the Law. The Law specifies Trade Controls, Competition Laws, Insider Trading Laws, and Anti-Bribery Laws.
On the other hand, EnGadget, reported that Google finished its structural and managerial transition to Alphabet on October 2. Nonetheless, the stock trade of Google Class C Capital Stock and Google Class A Common Stock were completed on October 5 to Alphabet Class C Capital Stock and Alphabet Class A Common Stock. It is known that Google officially announced to be a subsidiary of the holding company on August 10.
The new code of conduct has to be implemented by Alphabet due to change of structure by Google as subsidiary company. The holding company expects that all employees shall follow the new rule.
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