By Heather Clancy
August 11, 2016

“G” is for gone Googlers. Google Ventures founder Bill Maris is stepping down, and the managing director, David Krane, is taking over. More details should filter out after a staff meeting later today, but this sounds like the course of natural selection. Maris, a neuroscientist by training, tells Recode: “Maybe I’ll become a magician, it’s hard to say.”

He has already worked some serious magic over the past eight or so years. GV (as the group is now known) ranks as the world’s biggest corporate venture capital organization, ahead of Intel Capital with $2.4 billion in investments as of early this year. Its investments during the first half of 2016 included Quartet, a software company addressing mental health care; immunotherapy specialist Armo Biosciences; and Juicero, which is making a juicer that can connect to the Internet.

Google’s parent Alphabet is getting familiar with damage control, seeing that this is second high-profile CEO departure of the summer. (Tony Fadell, CEO of Google’s home automation company Nest, left in early June after a “bittersweet” transition.) There has also been some high-level turnover within the technical leadership of Google’s self-driving car division.

Massive strategic shifts like creation of the Alphabet conglomerate last year tend to promote career soul-searching, so we may be shocked—but we shouldn’t be surprised.

Read on for more news, and have a terrific Thursday.

Heather Clancy is a contributing editor at Fortune. Reach her via email.



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