Tech & Biz

Eric Schmidt Steps Down as Google CEO; Larry Page Takes Over

by Jordan Yerman | January 20, 2011 at 03:18 pm

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Eric Schmidt to Act as Google Executive Chairman

Eric Schmidt, Google CEO since 2001, is stepping down as chief executive officer of the search and advertising giant. Larry Page will take on the title of CEO, while Sergey Brin will hold the title of Co-Founder.

Eric Schmidt will take on the new title of Executive Chairman, focusing on external relationships, such as with governments and other companies. Google has grown to over 24,000 employees, and its size and structure have led to several false-start projects, as well as inefficiencies in idea flow.

Google is at the top of its game in terms of Web 2.0, but that term is itself dated: Google has yet to truly crack the social-media nut, and Schmidt, Page and Brin are hoping that this internal shakeup will help out in that regard.

Time will tell how the title reshuffle will affect Google's product and development efforts.

As Executive Chairman, I will focus wherever I can add the greatest value: externally, on the deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership that are increasingly important given Google’s global reach; and internally as an advisor to Larry and Sergey.