Larry Page, co-founder of Google, will assume the role of CEO and co-founder, Sergey Brin, will work on strategic projects. They're both 37 years old now and seasoned enough to replace Eric Schmidt, who since his appointment in 2001, has been viewed as the "adult" running the company.
"The shake-up comes at a time when Google's search dominance is unquestioned and its efforts to expand its business into display advertising and mobile technologies has given it a few more sources of funding for its dreams," CNET reports.
But Google has struggled with developing a social networking app. Google Buzz, which was launched last year, failed an has basically been shelved. Meanwhile, Facebook has grown rapidly and appears on the verge to be growing faster than Google and more innovative with its rapid development of apps and knack for acquiring Google's employees.
The New York Times, after interviewing Page yesterday, said he was moving to the CEO role to try to stop Google's drift toward corporate bureaucracy and "rediscover its startup roots."
TechCrunch says Brin is going to be leading Google’s social plans, although he was cryptic in describing his new role during an earnings call attended by analysts yesterday.
Meanwhile, Google exceeded fourth-quarter earnings expectations, leading The Times to say it's now firmly ensconced in e-commerce and that its Android operating system and related apps are paving the way for a smooth transition to the mobile world.