The bigger story is that Google has just announced that co-founder Larry Page will be replacing Eric Schmidt as CEO of the company. This transition will take place on April 4, Google says.
Schmidt will take the role of “Executive Chairman” and will focus on “deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership,” the company says. He will also continue to act as an advisor to Page and fellow co-founder Sergey Brin.
Speaking of Brin, he’ll be working on “strategic projects, in particular working on new products,” the company says. His title will remain “co-founder”. So it sounds like no big change there.
Of the change at the top, Schmidt writes:
We’ve been talking about how best to simplify our management structure and speed up decision making for a long time. 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.