(Adds details on letter)
By Julia Love
April 27 (Reuters) - Alphabet Inc Chief Executive Larry Page said on Thursday that the holding corporate structure for search unit Google and a host of new businesses has succeeded in creating more transparency for investors.
As the two-year anniversary of Alphabet's corporate restructuring approaches, Page said in a letter to investors that the model has empowered entrepreneurs outside its core business.
"The new structure has helped entrepreneurs build and run companies with the autonomy and speed they need," he wrote in the letter published ahead of the Mountain View, California-based company's earnings on Thursday.
Page took Silicon Valley by surprise in August 2015 with the creation of a new company, Alphabet, to house Google and new ventures ranging from self-driving cars to health technology, which would be broken off into separate companies. The structure was intended to give investors greater visibility into the search unit's performance and give leaders of the new businesses more autonomy.
Investors have cheered the new structure, but it has been met with mixed results. The self-driving car group has graduated into a new company, dubbed Waymo, but a host of Alphabet executives have departed, including the leaders of smart home technology company Nest and Google Ventures.
(Reporting by Julia Love; Editing by Richard Chang)