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Larry Page: Google New CEO Replaces Eric Schmidt

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On Thursday, January 20, Google revealed that Eric Schmidt would be stepping down as the company’s CEO. Schmidt was formerly on the Board of Directors for Apple.

He resigned his position with apple in 2009, due to a conflict of interests between Apple and Google. Schmidt had joined the board of directors for Google as chairman in March 2001. In August 2001, he became the company’s CEO.

Schmidt also served as an informal adviser to President Obama and was mentioned as a possible candidate for the new Chief Technology Officer position. Schmidt leaving Google came as a surprise to the market. Google had previously finished the quarter with revenues of $8.44 billion as of December 31, 2010.

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Google’s co-founder Larry Page will become the company’s CEO. Page is 38 years old. Page founded Google with fellow Stanford Ph.D. student Sergey Brin.

The two hired Schmidt in 2001 as CEO of Google. Yet, even though Page will become CEO, Schmidt will not be leaving Google just yet. He will take on the role of Executive Chairman for the company. At the same time, Brin was said to have been concentrated on strategic projects, in particular working on new products.

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