Google announced its fourth quarter earnings this afternoon, and at the same time, the company announced that co-founder Larry Page will be replacing Eric Schmidt as CEO of the company.
Schmidt who had been brought in as CEO about ten years ago because investors in the company thought Google needed to have a more mature Chief Executive.
Schmidt, 55, will remain with the company as an adviser to Page, 37, and Google’s other co-founder, Sergey Brin, as Executive Chairman.
The changes will go into effect on April 4.
“In my clear opinion, Larry is ready to lead and I’m excited about working with both him and Sergey for a long time to come,” Schmidt said.
- Eric Schmidt lays out three priorities for Google: LTE, mobile money, inexpensive smartphones (engadget.com)
- Google’s Eric Schmidt: “2011 All About Mobile” (searchengineland.com)
- Google Eyes Mobile As The Key To 2011 (gigaom.com)
- Eric Schmidt – Google’s Chrome OS Announced by Eric Schmidt (itc.conversationsnetwork.org)