Google Announces New CEO, Larry Page to Replace Eric Schmidt

While everyone was speculating about Steve Jobs and Apple, Google went and announced a change in management: Eric Schmidt is stepping down as CEO, and Co-founder Larry Page is taking over. Schmidt will be executive chairman and focus on “broader business relationships, government outreach, and technology thought leadership,” according to the company’s announcement. Sergey Brin, another Google co-founder, will take a more active role in strategic projects. Schmidt said the shift comes because “managing the business has become more complicated,” and Google wanted to “speed up decision-making.”