Thursday, 20th January 2011
Eric Schmidt Leaving Google, Larry Page To Take Over As CEO
From the Wall Street Journal:
Google Inc. said co-founder Larry Page will replace Eric Schmidt as chief executive, a surprise change atop the Internet giant.
Mr. Page will take charge of day-to-day operations as CEO starting April 4. Mr. Schmidt will become executive chairman of the company, focusing externally on partnerships and government outreach.
Moments after Google announced the change, Mr. Schmidt sent a message to his Twitter followers saying, "Day-to-day adult supervision no longer needed!"
In a conference call, Mr. Schmidt said the three had been making decisions together, but it was a slow process. The new organization is expected to streamline things by "elevating me and having Larry running things day to day," Mr. Schmidt said.
Schmidt Has Posted An Item on the Official Google Blog:
And as our results today show, the outlook is bright. But 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.
From the Google News Release:
+ ...Google has also announced plans to streamline decision making and create clearer lines of responsibility and accountability at the top of the company.
+ Starting from April 4, Larry Page, Google Co-Founder, will take charge of Google’s day-to-day operations as Chief Executive Officer.
+ Sergey Brin, Google Co-Founder, will devote his energy to strategic projects, in particular working on new products.
+ Eric Schmidt will assume the role of Executive Chairman, focusing externally on deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership — all of which are increasingly important given Google global reach. Internally, he will continue to act as an advisor to Larry and Sergey.
The announcement was made as Google released their Q4 2010 earnings.
+ Google Profit Tops Estimates on Ad Demand; Page Is Named CEO (via Bloomberg)
Ken Auletta, author of Googled: The End of the World as We Know It, tells Bloomberg might be "eyeing" a job in the Obama administration.
+ News and Commentary About Today's News From Danny Sullivan at Search Engine Land
+ Live Blog From Q4 2010 Ernings Call (via WSJ)
4:47 EST: "I believe Larry is ready," Mr. Schmidt says."
4:49 EST: "Mr. Schmidt wraps up that little interlude by saying it's been a "great privilege" to be CEO for 10 years and that he is "very much looking forward" to his new role, including working more with his "literally best friends and partners Larry and Sergey."
+ Google's Triumvirate is Dead: Larry Takes Over (via NY Magazine)
See Also: Google Names Dr. Eric Schmidt Chief Executive Officer(August 6, 2001)
See Also: Earlier this month (Jan. 2011) Schmidt had an "Agenda" column posted on the Harvard Business Review web site. In "Preparing for the Big Mobile Revolution," he said all of Google's 2011 initiatives are mobile.