Friday, January 21, 2011

Larry Page, One of the 'Google Guys' Takes Over as CEO on April 4, 2011

Wow, welcome to the drivers seat Larry Page! One of the two co-founders of Google is now stepping up to the plate to lead Google into the future. Yesterday when Google announced its 4th-quarter earnings for 2010, it also presented major leadership restructuring.

Eric Schmidt, Google's current CEO will assume the position of Executive Chairman, and beginning April 4th, Larry Page will become Google's CEO. Many years have passed since September 4, 1998 when the two 'Google Guys' emerged onto the scene to found Google. Larry Page and Sergey Brin quickly became both rich and famous as Google grew to the number one search engine. Sergey Brin will commit to working on strategic projects, particularly new products. Eric will continue in the background as an advisor to Larry and Sergey.

Schmidt is quoted as saying:

"We've been talking about how best to simplify our management structure and speed up decision making for a long time. 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."

Google continues to be a strong money maker at $8.44 billion in revenue for the quarter ending December 31, 2010. (up 26% from Q4 2009) Google's net income was $2.54 billion, which is up from $1.97 billion in Q4 2009.

We'll be waiting to see if this leadership change effects Google's earnings for Q4 2011.

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