Google CFO Ruth Porat has been appointed to a new position, taking on the role of President and Chief Investment Officer of Alphabet and Google.

Google disclosed the news in its quarterly report press release, saying Porat will continue as CFO while the company looks for her successor. In her new role, Porat will oversee the company’s Other Bets portfolio, reporting directly to Alphabet/Google CEO Sundar Pichai.

“Ruth has worked to drive financial discipline and returns for shareholders, while spearheading investment to create sustainable, long-term value. As today’s results show, we’re making good progress and we’re committed to continuing this important work,” Sundar said. “In her new role, Ruth will strengthen our collaboration with policy makers and shape our corporate investments to have maximum economic impact for people and economies around the world.”

“I’m excited about this new role and the opportunity to engage with leaders globally to unlock economic growth via technology and investment,” said Ruth. “I’m committed to Google’s continued growth and ensuring that our diverse global investments are supported with strong partnership to create opportunities for people and communities, everywhere.”