Nest CEO switch: Fadell steps out, Moto exec steps in

This afternoon Alphabet and Nest announced that they'd be switching up CEOs – Fadell is out and Fawaz is in. That's Tony Fadell who, after six years working on Nest, will be moving into an advisor role with Alphabet, working directly with Larry Page. In his place will be Marwan Fawaz, former executive vice president of Motorola Mobility. There, Fawaz served as CEO of Motorola Home, "overseeing vision, strategy, and operations.

"Under Tony's leadership, Nest has catapulted the connected home into the mainstream, secured leadership positions for each of its products, and grown its revenue in excess of 50% year over year since they began shipping products," said Alphabet CEO Larry Page.

"He's a true visionary and I look forward to continuing to work with him in his new role as advisor to Alphabet. I'm delighted that Marwan will be the new Nest CEO and am confident in his ability to deepen Nest's partnerships, expand within enterprise channels, and bring Nest products to even more homes."

Remember that Nest is about more than smart home products at this point, having moved the group to Nest from Google X back in January of 2015.

According to Alphabet and Nest, Fadell will be "pursuing opportunities to create new industries and disrupt others — and to support people who want to do the same."

He'll also be helping support the transition in Nest leadership.

Fadell also made a statement this afternoon, saying he began discussions with his team at Nest about transitioning out. He made sure to mention leaving Nest in the hands of a "strong and experienced leadership team with Marwan at the helm." He also suggested that the company has a two-year product roadmap in place as of now.

"I'm looking forward to my new role as an advisor to Alphabet and Larry," said Fadell, "which will give me more time and flexibility to pursue new opportunities to create and disrupt other industries – and to support others who want to do the same – just as we've done at Nest."