MOUNTAIN VIEW, Calif., Jan. 20 (UPI) -- Larry Page, who co-founded Google with Sergey Brin, will be the U.S. search-engine giant's chief executive officer in April, the company announced Thursday.
"In this new role I know he will merge Google's technology and business vision brilliantly," Eric Schmidt, the company's current CEO, said in a blog posted on Google's Web site. "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 said managing the business became more complicated as the Mountain View, Calif., company has grown, so he, Page and Brin had been discussing how to simplify the company's management structure and speed up the decision-making process.
"For the last 10 years, we have all been equally involved in making decisions," Schmidt said. "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."
Schmidt said Page also will take the lead product development and technology strategy, while Brin will focus on strategic projects and have the title co-founder.
As executive chairman, Schmidt said he would concentrate on external "deals, partnerships, customers and broader business relationships, government outreach and technology thought-leadership that are increasingly important, given Google's global reach," and act as an adviser to Page and Brin.
"We are confident that this focus will serve Google and our users well in the future," Schmidt said. "Larry, Sergey and I have worked exceptionally closely together for over a decade -- and we anticipate working together for a long time to come."