Page to replace Eric Schmidt as the new Google CEO
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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.
The reshuffling of management, effective April 4, 2011, has led to clearer posts held by the three. Larry Page takes over as the CEO focusing on the product development and technology strategy. Eric Schmidt steps down to the post of Executive Chairman and will be maneuvering issues concerning external affairs, business relationships, partnerships and government affairs. Sergey Brin, with his new role as co-founder, will be brainstorming new strategic projects.
Eric addressed the press regarding the re-shuffle with a tinge of positivity saying the he was excited to work with Larry and Sergey for a long time to come, and said that Larry is ready to lead as the CEO. He also said that the three were best friends and longtime business colleagues. Larry added that Eric has done a great job as the CEO and they were just at the beginning of the journey and he couldn't wait to get started.
What do you think of the re-shuffle? How, do you think, is the re-shuffle going to change the fortunes and decision strategies of the company- Let us know through your comments.
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