Yes, it’s almost done as Google is going to transform into Alphabet soon. Google shares are going to change into Alphabet shares which will start from Monday. As announced in August, Google will now be a part of Alphabet run by Sundar Pichai, under the owners of Alphabet which would be Larry Page and Sergey Brin. Therefore, this would end up having different CEOs under different Departments and henceforth separating business from R&D, therefore, Alphabet.This opens up numerous possibilities for the company overall with this restructuring.
Source: The Verge