Larry Page Replaces Eric Schmidt as Google CEO

Google co-founder and CEO Larry Page

Google co-founder Larry Page today replaced outgoing CEO Eric Schmidt as part of a transition process that takes place today.

Schmidt will continue to work at Google as Executive Chairman, where he will focus on external factors like business partnerships, mergers and acquisitions, and government lobbying and policies that impact Google’s operations. Schmidt says he will still be involved in key decision making among the three co-founders.

Effective today, Larry Page is now the company CEO and will oversee the daily operations of Google and will be more involved in product strategy at the company.

Eric Schmidt also received an equity award for his work as CEO totaling $100-million.

Google first announced the transition plan on January 20, 2011.

You could learn more about Googles top level management at the now updated Google executive bio page.

The Google stock (NASDAQ:GOOG) is trading down about 5 basis points at $590 per share in early morning trading in New York City.

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