Shake-up at Google: Schmidt to be chairman, Page to be CEO

[Electric Monk]

Source: CNet News

Google shook up its ruling triumvirate today, announcing that CEO Eric Schmidt would be taking the role of executive chairman, while co-founder Larry Page will become CEO. Sergey Brin, who has also shared power with the two others, will work on "strategic projects," Google said.

Schmidt, who was hired by the co-founders to be Google's CEO in 2001, will focus on external partnerships and business deals starting on April 4, when Page will take over the day-to-day management role. Page was Google's first CEO, and Schmidt said in a blog post that Page "in my clear opinion, is ready to lead."

Brin will continue to focus on technology products, assuming the title of Co-Founder as opposed to his current role of President, Technology. "He's an innovator and entrepreneur to the core, and this role suits him perfectly," Schmidt wrote in his post.

Google dropped the news in announcing fourth-quarter earnings results.

Read more: http://news.cnet.com/8301-30684_3-20029094-265.html