Page to replace Eric Schmidt as the new Google CEO
Google has announced to name Larry Page as the new CEO of the company, replacing Eric Schmidt. The decision has been taken by the trio (Eric Schmidt, Sergey Brin and Larry Page) as they felt that the company needed to reconfigure it's management hierarchy as the past hierarchy was rendering slow the decision making capability of the multi-billion dollar venture. Moreover, it was said in the press conference that the old management structure was leading to overlapping responsibility circles, and hence accountability of taking decisions was not clear.
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