Schmidt to become executive chairman, focus on external affairs
Google’s Eric, Larry and Sergey
Google co-founder Larry Page will replace Eric Schmidt as the CEO of the search engine company in April.
Schmidt revealed the news while announcing Google’s latest financial results.
Schmidt will be taking over as the executive chairman of the company and focus externally on deals, partnerships, customers and business relationships.
On the official Google blog, Schmidt said Page will lead product development and technology strategy – his greatest strengths, according to Schmidt – and starting from April 4 will be in charge of Google’s day-to-day operations as the CEO. "In this new role I know he will merge Google’s technology and business vision brilliantly," Schmidt said.
"I am enormously proud of my last decade as CEO, and I am certain that the next 10 years under Larry will be even better. Larry, in my clear opinion, is ready to lead," Schmidt wrote.
Google’s other co-founder Sergey Brin will devote his time and energy to strategic projects and on new products. "His title will be co-founder. He’s an innovator and entrepreneur to the core and this role suits him perfectly," the blog said.
"For the last 10 years, we have all been equally involved in making decisions. This triumvirate approach has real benefits in terms of shared wisdom, and we will continue to discuss the big decisions among the three of us," Schmidt wrote. "But we have also agreed to clarify our individual roles so there’s clear responsibility and accountability at the top of the company."
"As Executive Chairman, 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; and internally as an advisor to Larry and Sergey," he said.
"We are confident that this focus will serve Google and our users well in the future. Larry, Sergey and I have worked exceptionally closely together for over a decade — and we anticipate working together for a long time to come. As friends, co-workers and computer scientists we have a lot in common, most important of all a profound belief in the potential for technology to make the world a better place," the blog concluded.