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Eric, Larry and Sergey in a self-driving car

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Eric Schmidt to step down as Google chief executive

Posted on 21 January 2011 by Aeron M. Peterson

Following the Google’s strong rise in net profits in the last three months of $2.54bn on revenues of $8.44bn, the search giant said Mr Schmidt would focus on “deals, partnerships, customers and broader business relationships”.

In the decision made by Google, Larry Page co-founder of Google will re-claim his position way back 10-years ago. Page now 37 is now seen ready to take the position compare to his capability decade ago. Schmidt who has been chief executive for the past ten years, says from his blog post :

Eric, Larry and Sergey in a self-driving car

Eric, Larry and Sergey in a self-driving car. Source:Googleblog.blogspot.com

“In my clear opinion, Larry is ready to lead and I’m excited about working with both him and Sergey [Brin] for a long time to come,”

Larry Page left his chief executive position when investors asked for a more experienced business leader. According to Schmidt, 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.

While, Google’s co-founder “Sergey Brin has decided to devote his time and energy to strategic projects, in particular working on new products. His title will be Co-Founder.”

The changes will take effect on April 4 of this year.

Schmidt ended his announcement with

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….

We love Google—our people, our products and most of all the opportunity we have to improve the lives of millions of people around the world.

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