So what of Schmidt? It seems he will still be fully involved in the progression of Google for some time to come.
Having joined the company as chairman of the board of directors in 2001, Schmidt became CEO later in that year. He has taken the company through 10 years of massive growth.
"We've been talking about how best to simplify our management structure and speed up decision making for a long time," Schmidt said.
"By clarifying our individual roles we'll create clearer responsibility and accountability at the top of the company. In my clear opinion, Larry is ready to lead and I'm excited about working with both him and Sergey for a long time to come."
Given the success Schmidt and Google have had together it may come as a surprise to some that he is stepping down as CEO.
Indeed, Gartner analyst Rene Millman said Schmidt has proven himself to be a worthy leader.
"I think in the early days Schmidt was definitely the right man for the job. And history has proved him to be so," Millman told IT PRO.
"I don't foresee any problems with a new man at the helm. Hopefully Schmidt has been a good mentor to Page and Page has learnt enough from Schmidt to continue the Google success story."
Millman added that it made sense for co-founder Page to lead the company in the years ahead.
It certainly appears Google has made a astute move and timed it to perfection as well. This is one ship one with a young, talented new captain - that does not look like sinking.
-
M&S suspends online sales as 'cyber incident' continuesNews Marks & Spencer (M&S) has informed customers that all online and app sales have been suspended as the high street retailer battles a ‘cyber incident’.
-
Manners cost nothing, unless you’re using ChatGPTOpinion Polite users are costing OpenAI millions of dollars each year – but Ps and Qs are a small dent in what ChatGPT could cost the planet
-
Software engineers are in for a rough ride as AI adoption ramps up – 80% will be forced to upskill by 2027 as the profession is transformedNews The technology will create new roles throughout software engineering and operations, the firm said
-
Demis Hassabis: The man behind Google DeepMind commits to ethical AINews As DeepMind comes under Google's stewardship, we take a look at its leader and why he took the job
-
Mozilla re-hires veteran Mitchell Baker to serve as CEONews The interim chair and CEO formally rejoins the organisation after Chris Beard stepped down in December 2019
-
IT spending could reach £3.5 trillion in 2017News Enterprise software will record 7.5% growth, predicts Gartner
-
Skills gap listed as major challenge in Hadoop takeupNews Research by Gartner said only 26 per cent of respondents claim to be either deploying, piloting or experimenting with Hadoop
-
Tablet sales set for slow 2015, predicts GartnerNews Why Gartner thinks Windows Phone will grow faster than Apple’s iOS
-
iPhone 6/6 Plus fuel 26 per cent smartphone sales jump for AppleNews Samsung loses huge market share in China, while Apple’s iPhone 6 sales continue unabated
-
Russia dismantles Steve Jobs memorial after Tim Cook comes outNews A Steve Jobs memorial has been taken down after the current CEO announced he's gay
