Google declared their fourth-quarter earnings for 2010 – $8.44 billion which is an increase of 26% – but probably the biggest announcement was a management shift. Effective April 4th current CEO Eric Schmidt will step aside and co-founder Larry Page will take over as CEO and run Google’s day-to-day operations. Schmidt will take on an Executive Chairman role and focus on “deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership”. Sergey Brin, the other Google co-founder will “devote his energy to strategic projects, in particular working on new products”.
Schmidt stated on the company blog that “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”