Google's Q4 financial results press release contains a bombshell: as of April 4, co-founder Larry Page will replace Eric Schmidt as CEO and assume responsibility for day-to-day operations and product development and strategy.
Schmidt will carry on as Executive Chairman and serve as an advisor to Page and co-founder Sergey Brin, focused on external things like "deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership." As for Sergey, he'll now "devote his energy to strategic projects, in particular working on new products," with the simple title of Co-Founder.
Schmidt's explained the change saying that,
"We're confident that this focus will serve Google and our users well in the future. Larry, Sergey and I have worked exceptionally closely together for over a decade--and we anticipate working together for a long time to come. As friends, co-workers and computer scientists we've a lot in common, most important of all a profound belief in the potential for technology to make the world a better place. We love Google--our people, our products and most of all the opportunity we've to improve the lives of millions of people around the world."
[tags]management,ceo,founder,co-founder,chairman,executive chairman,board,company board[/tags]