Eric Schmid Steps Down As Google's CEO

In the post, Eric Schmidt said, "Larry will now lead product development and technology strategy, his greatest strengths, and starting from April 4 he will take charge of our day-to-day operations as Google's Chief Executive Officer. In this new role I know he will merge Google's technology and business vision brilliantly. 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."

However, Schmidt will still remain as an adviser to both Larry Page and Sergey Brin (co-founder of Google), as Google's executive chairman, according to a Webmasterworld discussion. The post also added that Sergey Brin will focus on strategic projects, particularly on new products as a co-founder.

As intriguing as the stunner news of shift in power is the new leadership under Larry, who takes over the task after Schmidt's decade long reign. One can only wonder and hope for Google to continue doing what it does best and wish Larry the same.