We were not expecting this at all. Google co-founder Larry Page is going to replace Eric Schmidt as the new CEO of the company from April 4. Page has already served as the first CEO of Google back in 1998 to 2001 and he is back now. Schmidt will be the Executive Chairman of the company from the effective date.
This is what Eric Schmidt has said in a blog post:
Larry will now lead product development and technology strategy, his greatest strengths, and starting from April 4 he will take charge of our day-to-day operations as Google’s Chief Executive Officer. In this new role I know he will merge Google’s technology and business vision brilliantly. I am enormously proud of my last decade as CEO, and I am certain that the next 10 years under Larry will be even better! Larry, in my clear opinion, is ready to lead.
The other co-founder of Google Sergey Brin will have the following role in the company according to the blog post:
Sergey has decided to devote his time and energy to strategic projects, in particular working on new products. His title will be Co-Founder. He’s an innovator and entrepreneur to the core, and this role suits him perfectly.
According to Larry Page:
“Eric has clearly done an outstanding job leading Google for the last decade. The results speak for themselves. There is no other CEO in the world that could have kept such headstrong founders so deeply involved and still run the business so brilliantly. Eric is a tremendous leader and I have learned innumerable lessons from him. His advice and efforts will be invaluable to me as I start in this new role. Google still has such incredible opportunity — we are only at the beginning and I can’t wait to get started.”