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Thursday, January 20th, 2011

Google CEO Eric Schmidt Steps Down

 

From left: Larry Page, Eric Schmidt, and Sergey BrinJust 31 minutes ago Google CEO Eric Schmidt posted that he will be stepping down as CEO on April 4th, 2011 in favour of giving Larry Page the reins. This news came in conjunction with positive fourth quarter 2010 financial results released at the same time: “Google reported revenues of $8.44 billion in the fourth quarter of 2010, representing a 26% increase over fourth quarter 2009 revenues of $6.67 billion” (4th quarter results).

Here is the pertinent quote from his news release:

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. In this new role I know he will merge Google’s technology and business vision brilliantly. 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.

In addition, Sergey Brin’s title is being changed to Co-Founder while he works on “strategic projects, in particular working on new products” (Eric Schmidt). So what will Eric be doing now that he is no longer CEO? He is Executive Chairman:

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.

To read more on Eric Schmidt’s step down from his position as CEO visit the press release.


4 Responses to “Google CEO Eric Schmidt Steps Down”

  1. Tihomir Petrov

    We will see what will change :)

  2. Sarah S

    hi, First time poster and glad to be a part of the group!

  3. auttaphon

    I search from Google pic key “Eric Schmidt”

  4. Raja

    hey, i always love google ..thank for the info..

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