Big news, if you haven’t been stuck to your screen for the last hour—on April 4, Google CEO Eric Schmidt will step down and pass the buck to co-founder Larry Page. He’s not completely out—he’ll be taking over as executive chairman.
Page joined Schmidt on the earnings call to clarify their new roles. Schmidt explained that he’ll now be dealing with more strategic and external issues, and focusing less on internal operations: customers, partners, government communication, etc. Page will now be in charge of day-to-day operations at Google, and told investors that he’s studied closely under Schmidt for the last ten years.
Check out our coverage to get all of the best quotes and Schmidt’s full statement regarding the change.