Google Jan. 20 said it is streamlining operations, with co-founder Larry Page taking the role of CEO and moving current Google CEO Eric Schmidt to the role of executive chairman.
Google, which also reported revenues of $8.44 billion and a profit of $2.54 billion for the fourth quarter, said Page will take over day-to-day operations from Schmidt on April 4.
Page's responsibilities will include leading product development and technology strategy. Google co-founder Sergey Brin will focus on new products.
As executive chairman, Schmidt will focus on deals, partnerships, customers and broader business relationships, among other things to expand Google's reach around the world. Schmidt will also continue to act as an adviser to Page and Brin.
&"We've been talking about how best to simplify our management structure and speed up decision making for a long time," said Schmidt, who joined Google as CEO in 2001.
For more, read the eWeek article: Google's Larry Page to Replace Eric Schmidt as CEO .