Google is getting back to its roots and has appointed its reticent co-founder Larry Page the new CEO. The company's current CEO
Eric Schmidt will step down to assume his new position as chairman. In the latest shake-up, another co-founder Sergey Brin has also been given more active role in strategic decision making. According to industry analysts, the shake-up points to the newer challenges faced by the company. Lately, Google's advertising revenue has been affected by the advent of social networking site Facebook. Although, the company has said that the change in management is amicable but Mr. Schmidt's tweet. "Day-to-day adult supervision no longer needed!” seems to say otherwise.
Under Schmidt's leadership, the company went through a successful IPO and became a internet behemoth. For Page, this is his second inning as the chief executive officer of the company. Earlier, he held this post when Google was an obscure start up in California. He had to abdicate the role to accommodate the venture capitalists funding the company. The change of leadership is likely to bring a change in corporate culture too, which is evident from Page's statement, "My goal is to run Google at the pace and with the soul and passion of a startup.” Let's see how this change pans out for Google, which is now facing multiple threats in the form of faster and lither competitors and increased government scrutiny.
Source: Yahoo