Eric Schmidt stepping down as Google CEO
January 20th, 2011
04:16 PM ET

Eric Schmidt stepping down as Google CEO

Eric Schmidt is stepping down as Google CEO, with co-founder Larry Page taking over day-to-day operations on April 4.

Schmidt, who joined Google in 2001, will stay on as executive chairman, focusing externally on deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership, the company said in a statement.

Internally, he will continue to act as an advisor to Page, who will lead product development and technology strategy , and Google co-founder Sergey Brin, who will focus on strategic projects.

"As Google has grown, managing the business has become more complicated. So Larry, Sergey and I have been talking for a long time about how best to simplify our management structure and speed up decision making—and over the holidays we decided now was the right moment to make some changes to the way we are structured," Schmidt said in a statement.

The news comes on the same day Google announced its fourth quarter and fiscal year 2010 earnings. The company reported revenues of $8.44 billion for the quarter ended December 31, 2010, an increase of 26% compared to the fourth quarter of 2009.

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Filed under: Google • Technology
soundoff (11 Responses)
  1. Adrian

    first

    January 20, 2011 at 4:22 pm | Report abuse |
  2. Thabiso

    2nd

    January 20, 2011 at 4:25 pm | Report abuse |
  3. Greg

    I'd like to be the first to personally congratulate Adrian for getting first in this comment section. It's a truly monumental feat; we should all aspire to such heights of prowess.

    January 20, 2011 at 4:27 pm | Report abuse |
    • Adam

      ha well played sir

      January 20, 2011 at 4:55 pm | Report abuse |
  4. Ryan - Phoenix

    LOL Greg. To stay on topic, I wonder how this will affect it's stock price.

    January 20, 2011 at 4:30 pm | Report abuse |
  5. nelson

    I need cheese? Mickey rouke and underpants..

    January 20, 2011 at 6:13 pm | Report abuse |
  6. LmD

    CNN sucks. They know this of course.

    January 20, 2011 at 6:22 pm | Report abuse |
  7. LmD

    CNN sucks!

    January 20, 2011 at 6:26 pm | Report abuse |
  8. Jeff Frank

    Some people really think impementation of the CEO job responsibilities is sit to sit behind the computer all day long and "Google them". ROFL :^)

    January 20, 2011 at 8:34 pm | Report abuse |
  9. Sethathi Morokole

    This should be super exciting for Googlers 🙂

    February 2, 2011 at 12:56 pm | Report abuse |