Co-founder Larry Page to take over as Google CEO

Eric Schmidt will step down to the role of Executive Chairman on April 4. Will the shake up stir the stock market?

Topics: Google,

Co-founder Larry Page to take over as Google CEOGoogle CEO Eric Schmidt talks about the Google Chrome operating system in San Francisco, Tuesday, Dec. 7, 2010.(AP Photo/Marcio Jose Sanchez(Credit: AP)

After serving as Google’s chief executive officer for a decade, Eric Schmidt will step down as Google’s CEO. On April 4, the company’s co-founder Larry Page will take over the company’s day-to-day operations.

In a statement on Google’s blog, Schmidt explained the decision to restructure the leadership and simplify the management:

For the last 10 years, we have all been equally involved in making decisions. This triumvirate approach has real benefits in terms of shared wisdom, and we will continue to discuss the big decisions among the three of us. But we have also agreed to clarify our individual roles so there’s clear responsibility and accountability at the top of the company.

Google also reported their quarterly earnings, today. Says TechCrunch: “They look good.”

Adam Clark Estes blogs the news for Salon. Email him at ace@salon.com and follow him on Twitter @adamclarkestes

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