Re: Good for them
More companies could probably do with a similar decision-making structure.
Are you a Google auto-shill? Entrenched management are a proven destroyer of shareholder value. There's hundreds of years of experience that tell this story, and it is a real disappointment to read that "Alphabet" are choosing to flush themselves down the be-skidded pan in this way.
Activist investors are not nice people, they're only in it for a buck. But their modus operandi and core skill is to realise where management are holding that buck back from the rightful owner. If Page and Brin don't want to work in shareholder's interests, that's fine. But don't list your company, and then piss on the new owners.
If the SEC had any balls, they'd stamp on all of this sort of management entrenchment. And Page and Brin could be forced to give shareholders their money back. THEN the pointy headed gits would be entitled to do what they want.