A net revenue of $6.4 billion and $8.75 a share were recently reported by Google. There are also some major leadership changes slated to take place.
Effective April 4th, Google Co-Founder Larry Page will assume responsibility for Google’s day-to-day operations as Chief Executive Officer (CEO).
Google Co-Founder Sergey Brin will turn his attention to strategic projects, in particular working on new products. Eric Schmidt will take on the role of Executive Chairman, and will continue to act as an advisor to Page and Brin. Externally, he will focus on a variety of strategies, including partnerships, government outreach and technology thought leadership.
An excerpt from Schmidt’s statement about the move follows.
“…as Google has grown, managing the business has become more complicated. So Larry, Sergey and I have been talking for a long time 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.
For the last 10 years, we have all been equally involved in making decisions. This triumvirate approach has real benefits in terms of shared wisdom, and we will continue to discuss the big decisions among the three of us. But we have also agreed to clarify our individual roles so there’s clear responsibility and accountability at the top of the company.”
“We are confident that this focus will serve Google and our users well in the future. Larry, Sergey and I have worked exceptionally closely together for over a decade, and we anticipate working together for a long time to come. As friends, co-workers and computer scientists we have a lot in common, most important of all a profound belief in the potential for technology to make the world a better place. We love Google, our people, our products and most of all the opportunity we have to improve the lives of millions of people around the world.”