Google is making some big changes over at Silicon Valley, with the news that its co-founder Larry Page will be replacing Eric Schmidt as CEO, effective from April 4.
“We’ve been talking about how best to simplify our management structure and speed up decision making for a long time,” Schmidt said in a statement.
“By clarifying our individual roles we’ll create clearer responsibility and accountability at the top of the company. 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.”
“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,” Page added.
Page, who is a co-founder of Google with Sergey Brin and also held the role from 1998 – 2001 (he was replaced by Schmidt), will now handle day-to-day operations; while Brin will be devoting time for strategic products for the company.
Schmidt will now become Executive Chairman, with a focus on “deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership–all of which are increasingly important given Google’s global reach”.
Schmidt will still be an advisor to both co-founders.