Google Inc. cofounder Larry Page is taking over as chief executive officer of the Internet company, after current CEO Eric Schmidt leaves the post he has held for more than a decade on April 4.
“As Google has grown, managing the business has become more complicated. … Larry will now lead product development and technology strategy, his greatest strengths, and starting from April 4 he will take charge of our day-to-day operations as Google’s chief executive officer," according to Eric Schmidt in a Google Blog.
The e-commerce business has grown from a Web startup to the world’s most frequented Internet search engine, with $24 billion in revenues annually. Even the company name itself has become a verb for Internet search using a search engine. Around the world, people have become accustomed to the concept of ‘Googling’ for information.
The Mountain View, Calif.-based company has also diversified into the mobile device business and has established its Android operating system, taking on key competitors like Apple Inc., as well as contending with the world’s largest social networking platform, Facebook Inc., in terms of the number of users and advertising sales.
“Larry is ready,” Schmidt, who will become executive chairman, said today on a company conference call. “It’s time for him to have a shot at running this.”