Internet search giant Google has revealed that come 4 April 2011, the company’s co-founder Larry Page, will be assuming the reigns as CEO, taking over from current CEO Eric Schmidt. Google’s other co-founder Sergey Brin, will be handling strategic projects, specifically new product development.

 

This corporate shuffling does not mean that current Google CEO Eric Schmidt is leaving, as he will become executive chairman. Schmidt’s new role will see the executive working externally on deals, partnerships, customers as well as broader business relationships and government outreach. He will also be acting in an advisory capacity to both Page and Brin.

 

“We’ve been talking about how best to simplify our management structure and speed up decision making for a long time,” stated Google CEO Eric Schmidt. “By clarifying our individual roles we’ll create clearer responsibility and accountability at the top of the company. In my clear opinion, Larry is ready to lead and I’m excited about working with both him and Sergey for a long time to come.”

 

“In this new role I know he will merge Google’s technology and business vision brilliantly,” said Schmidt about Page in a blogpost. “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!”

 

“Eric has clearly done an outstanding job leading Google for the last decade,” said Page. “The results speak for themselves. There is no other CEO in the world that could have kept such headstrong founders so deeply involved and still run the business so brilliantly. Eric is a tremendous leader and I have learned innumerable lessons from him. His advice and efforts will be invaluable to me as I start in this new role. Google still has such incredible opportunity--we are only at the beginning and I can’t wait to get started.”