Appreciating Google’s businesses and team, Schmidt appreciates that “the outlook is bright”, saying also that, as Google has grown, “managing the business has become more complicated”.
According to him, Google’s founders are talking for a long time about how best to simplify our management structure and speed up decision making and they reached now to a decision.
“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”, Schmidt said.
He added Sergey Brin decided to devote his time and energy to strategic projects, particularly new products, as Co-Founder.
Schmidt remains Executive Chairman of the company, focusing in adding value to the company and other such activities.