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Google CEO Steps Down

20 Jan, 2011 By: Chris Tribbey

Eric Schmidt

Google CEO Eric Schmidt said Jan. 20 that he will step down as CEO of the Internet giant, nearly a decade after he took the position.

Company co-founder Larry Page will take over the position April 4.

“When I joined Google in 2001, I never imagined — even in my wildest dreams — that we would get as far, as fast as we have today,” Schmidt wrote in a Google blog post. “I am enormously proud of my last decade as CEO, and I am certain that the next 10 years under Larry will be even better! Larry, in my clear opinion, is ready to lead.”

Schmidt will stay on as executive chairman, where he will focus on partnerships, government outreach and global outreach.

“We are confident that this focus will serve Google and our users well in the future,” he wrote.

The announcement came the same day Google reported its fourth-quarter 2010 results (ended Dec. 31). The company reported earnings of $2.54 billion on revenues of $8.44 billion.

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