Sat, Jan 22, 2011 - Page 1 News List

Google co-founder Page takes over, targets Facebook

Reuters, SAN FRANCISCO

Google Inc co-founder Larry Page will take over as chief executive from Eric Schmidt, a surprise move to make the company more nimble at a time when competition heats up with fast-growing rivals like Facebook.

Page’s assumption of day-to-day operations marks a return to Google’s technological roots, 13 years after he and fellow Stanford University student Sergey Brin founded what has become the top Internet search engine with US$29 billion a year in revenue.

The news came as Google reported earnings and revenue that blew past expectations.

While Google has dominated Internet search, the company has struggled in social networking.

Schmidt, who will step aside on April 4 and make way for Page, said in an interview that the change was “not a reaction to competitors.”

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