It was no secret that Google cofounder Larry Page hankered to be CEO at some point. (I should say, again–he was the founding CEO–but it always seemed from what I heard that he wanted another shot at the appropriate time.) Today, he got his wish, as Google just announced that he will take over from Eric Schmidt as CEO, focusing on product development and technology strategy. Schmidt will be executive chairman, handling deals, partnerships, government outreach, and other external matters, as well as serve as internal adviser to Page and cofounder Sergey Brin, whose title will be simply cofounder. He will focus on special projects, while Page’s key jobs will be product development and technology strategy.
Currently, Page is president of product and Brin is president of technology. By design, the trio was a single executive office that made decisions jointly–an arrangement that apparently wasn’t working as well as they wished for a company that now has more than 24,000 employees. Google has been slow to respond, at least with winning products, to key developments such as social networking.
More on the implications after the following comments at the start of Google’s earnings call. Here’s Schmidt on the call (edited after listening to the call again):