Google CEO Stepping Down After Ten Years
Google CEO Stepping Down After Ten Years
Google CEO Eric Schmidt is stepping down from the post after ten years to assume more of a behind-the-scenes role with the search giant. Taking over as the chief executive will be Larry Page, one of the co-founders of the Mountain View, California-based company.
The unexpected reorganization was announced after Thursday's trading session, upstaging the company's fourth-quarter earnings report, which also came after the closing bell. “Day-to-day adult supervision no longer needed!” Schmidt posted on Twitter moments after Google made the announcement. Schmidt will still be available to advise Page and Sergey Brin, Google's other co-founder.
The reorganization will become effective April 4th, with the 37 year-old Page reclaiming the post he held for the company's first three years before investors insisted somebody more mature run the company. That led to the 2001 hiring of Page, who is now 55, and had previously held top executive posts with Sun Microsystems and Novell Inc.
Together with Page and Brin, Schmidt built Google into the world's top Internet company, currently boasting a market value of over $200 billion, and making all three men billionaires.
Google CEO Eric Schmidt is stepping down from the post after ten years to assume more of a behind-the-scenes role with the search giant. Taking over as the chief executive will be Larry Page, one of the co-founders of the Mountain View, California-based company.
The unexpected reorganization was announced after Thursday's trading session, upstaging the company's fourth-quarter earnings report, which also came after the closing bell. “Day-to-day adult supervision no longer needed!” Schmidt posted on Twitter moments after Google made the announcement. Schmidt will still be available to advise Page and Sergey Brin, Google's other co-founder.
The reorganization will become effective April 4th, with the 37 year-old Page reclaiming the post he held for the company's first three years before investors insisted somebody more mature run the company. That led to the 2001 hiring of Page, who is now 55, and had previously held top executive posts with Sun Microsystems and Novell Inc.
Together with Page and Brin, Schmidt built Google into the world's top Internet company, currently boasting a market value of over $200 billion, and making all three men billionaires.
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