Just 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.