In advance of its Thursday earnings report, Google announced an executive shakeup whereby Eric Schmidt will hand over his chief executive officer duties to Larry Page, effective April 4.
Schmidt will continue on as executive chairman, while Sergey Brin will continue on as co-founder.
In a blog post, Schmidt said the shift has been in the works for some time. “Larry, Sergey, and I have been talking for a long time about how best to simplify our management structure and speed up decision making—and over the holidays we decided now was the right moment to make some changes to the way we are structured,” Schmidt said.
For 10 years, the trio have shared equally in the decision-making process, Schmidt said, and going forward, they “will continue to discuss the big decisions among the three of us.” But Thursday’s announcement clarifies their individual roles “so there’s clear responsibility and accountability at the top of the company.”
After April 4, Page will lead product development and technology strategy and take charge of day-to-day Google operations.
“In this new role I know he will merge Google’s technology and business vision brilliantly,” Schmidt wrote. “Larry, in my clear opinion, is ready to lead.”
As executive chairman, Schmidt said he will “focus wherever I can add the greatest value: externally, on the deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership that are increasingly important given Google’s global reach; and internally as an advisor to Larry and Sergey.”
Brin, meanwhile, will devote his time and energy to strategic projects, in particular working on new products.