14 DAY TRIAL // Google has made quite the announcement along with its Q4 financial results, Eric Schmidt, Google's CEO for the past decade, will be stepping down from the role and cofounder Larry Page will take over. This, apparently, is part of a restructuring at the very top in which Google's ruling 'triumvirate' will get more clearly defined roles. Schmidt will continue as Executive Chairman and will focus on external relations and partnerships.
"As Google has grown, managing the business has become more complicated. So Larry, Sergey and I have been talking for a long time about how best to simplify our management structure and speed up decision making—and over the holidays we decided now was the right moment to make some changes to the way we are structured," still CEO Eric Schmidt writes.
"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," he announced.
While there were few if any signs of strain at the top, the need for clearer roles has been in discussion for a time now. Google has been led by its two cofounders, Sergey Brin and Larry Page, along with CEO Eric Schmidt and all big decisions were taken as a group.
Eric Schmidt became Google CEO in 2001 when he took over from, interestingly enough, Larry Page. At the time the company was growing fast and needed an experienced executive at the top.
But Page now believes he is ready to take the role of official ruler Google handling day-to-day business. All major decisions will still be taken by the three men at the top.
Meanwhile, Eric Schmidt will continue as Executive Chairman and will focus on external affairs, relations with partners, consumers, governments and so on.
"I will focus wherever I can add the greatest value: externally, on the deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership that are increasingly important given Google’s global reach," Schmidt explains.
Sergey Brin will be stepping down as Google president, a role that came with some executive powers, and will be formally titled Co-founder. He will focus on the long-term strategy, more advanced technology and new products.