On Thursday Eric Schmidt announced that he will be leaving his post as Google CEO come April 4 and Google co-founder Larry Page will fill the role.  From that day on, Page will “lead product development and technology strategy” and “take charge of [Google] day-to-day operations,” while Schmidt will stay with the company as Executive Chairman.  In a blog post Schmidt says, “I will focus wherever I can add the greatest value: externally, on the deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership that are increasingly important given Google’s global reach; and internally as an advisor to Larry and Sergey.” He hands the reigns to Page under amicable conditions.  “In this new role I know [Page] will merge Google’s technology and business vision brilliantly,” he said. “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.”  And what of the other co-founder, Sergey Brin?  He “has decided to devote his time and energy to strategic projects, in particular working on new products.”  Schmidt adds, “He’s an innovator and entrepreneur to the core, and this role suits him perfectly.”  And he concludes, “Larry, Sergey and I have worked exceptionally closely together for over a decade—and we anticipate working together for a long time to come.”

This is certainly a big shakeup for one of the world’s most dominant companies.  Whether or not this transitional shift of control affects Google’s products and services…time will tell.

[Via GoogleBlog]