Google's new parent company Alphabet just passed its first big test (GOOG, GOOGL)

Flickr / TED Conference Google's parent company Alphabet just had its first big executive shake-up, and it underscores one of the important tenets of its new operating structure: Alphabet is a bunch of independent companies with central oversight. When any of the companies hits trouble, Alphabet will decide whether a CEO change is necessary. In this case, Tony Fadell, the CEO of Nest, the smart-home company Google bought for $3.2 billion in 2014, is out, replaced by former Motorola executive M...