-- Google Finance, Govt, Policy and Business Issues
---- Schmidt to be chairman, Larry Page now CEO
rogerd - 9:10 pm on Jan 20, 2011 (gmt 0)
Just caught this on CNBC, link to follow.
Google co-founder Larry Page is taking over as CEO of the Internet search leader in April.
He will over the job from Eric Schmidt, who has been CEO for the past decade. When the change is made Schmidt will become executive chairman. Page, 37, is reclaiming the top job from Eric Schmidt, who had been brought in as CEO a decade ago because Google's investors believed the company needed a more mature leader.
Schmidt, 55, will remain an adviser to Page and Google's other co-founder, Sergey Brin, as Google's executive chairman.
The changes will be effective 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.
Page praised Schmidt, too. "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," Page said.