Google co-founder Larry Page will take over as Google CEO in April from Eric Schmidt, who will remain with the company as executive chairman.
The change is an attempt to streamline the company’s top-level decision making process, the company said on Thursday, when it reported its 2010 fourth quarter earnings.
Google’s other co-founder Sergey Brin will oversee strategic projects, specifically new products.
Schmidt became Google’s CEO in 2001, steering the company through its massive financial growth, including its IPO, as well as through a significant expansion of its technology and business focus beyond its core search engine market.