Linux Today: Linux News On Internet Time.

Schmidt out as Google CEO, Q4 Profit Soars

Jan 20, 2011, 21:48 (1 Talkback[s])
(Other stories by Kenneth Corbin)

"Search giant Google reported a double-digit increase in fourth quarter revenues on Thursday, topping analysts' forecasts, but the company overshadowed its rosy financial performance with the announcement of a major shakeup in the ranks of its top executives.

"CEO Eric Schmidt will step aside and assume the role of executive chairman, with co-founder Larry Page assuming the top spot.

"Co-founder Sergey Brin, who currently serves as president of technology, will take "co-founder" as a formal title, and focus on new product development.

"Google (NASDAQ: GOOG) said Schmidt will continue to act as an internal advisor to Page and Brin, but will devote his attention to other areas, including deals, partnerships and government relations."

Complete Story

Related Stories: