Google's Larry Page Becomes CEO, Eric Schmidt Takes Exec Chair Role

Google announced in its earnings release Thursday a major change to the executive staff. The company called it a way to streamline decision making and create clear lines of responsibility and accountability at the top of the company.

Beginning April 4, co-founder Larry Page, becomes CEO and takes over day-to-day operations. Co-founder Sergey Brin puts the focus on strategic projects such as new products. Eric Schmidt becomes Executive Chairman and will focus on deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership.

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