Photo by: CNET
Google is shaking up its top management.
Co-founder Larry Page will take over piloting the Internet giant from current CEO Eric Schmidt. Google announced Schmidt will become executive chairman and focus on deals and government outreach. Google also released fourth-quarter earnings that beat Wall Street expectations. Net revenue was six-point-four-billion dollars.
Google said the management shakeup will streamline operations at the top and create clearer lines of accountability. Page and co-founder Sergey Brin brought in Schmidt to run Google in 2001. The running joke at the time was Schmidt would provide adult supervision to its two youthful founders. Schmidt tweeted after today’s announcement, quote, “day-to-day adult supervision is no longer needed.”