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Posted at 4:20 PM ET, 01/20/2011

Schmidt to step aside as Google CEO

By Mike Shepard

Google announced Thursday afternoon that chief executive Eric Schmidt will step aside and be succeeded by Larry Page, one of the search giant’s co-founders.

Schmidt, who joined Google as chief executive in 2001, said in a statement that the decision was aimed at simplifying the company’s management structure.

“As Google has grown, managing the business has become more complicated,” he said. “[W]e decided now was the right moment to make some changes to the way we are structured.”

Google named Schmidt executive chairman, and his duties will include forging external partnerships and conducting government outreach on the company’s behalf, according to the statement. The management change will take effect April 4, the company said.

The news came as the Mountain View, Calif.-based company reported a $2.54 billion profit in the fourth quarter of 2010, up 28 percent from the comparable period a year earlier.

By Mike Shepard  | January 20, 2011; 4:20 PM ET
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A reward for success?

Posted by: phvr38 | January 20, 2011 5:23 PM | Report abuse

Google business initiatives invite new vertical monopoly laws; ISP, search, email, browser, mobile devices

One can only hope they never hire Dick Cheney...

- Balkingpoints / www

Posted by: RField7 | January 20, 2011 5:32 PM | Report abuse

Monopoly laws are meant to protect the consumer. You really think the consumer would be better off if Google wasn't allowed to integrate all of these different channels in the way that they have?

Posted by: esocci | January 20, 2011 5:35 PM | Report abuse

Hopefully this means that Page can clean house and Google quits messing with their interfac.

Return google Search to its clean interface, dumps the useless left side panels in both the main interface and its News interface, quits subjecting users to absurd "cutsy" suprise "video game" like imbeds in it's logos, quit imposing stupid backgrounds you have to load an add-in to turn off, etc.

In other words, if it ain't broke, don't F it up.

I pray Page takes google back to what it was, the cleanest and best search engine on the web. I also hope he cleans up its "cloud" applications, etc.

The last two years have been an exercise in screwing up Google, glad Schmidt is out, they should fire Marissa Mayer too as far as I am concerned.

Posted by: plaza04433 | January 21, 2011 10:05 PM | Report abuse

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