Google chief executive Eric Schmidt will hand over the reins to co-founder Larry Page, the company said today.
Mr Schmidt will assume the role of executive chairman, focusing on deals and government outreach, among other things.
Mr Page, who co-founded Google with Sergey Brin, will take charge of day-to-day operations as chief executive.
Google also reported fourth-quarter financial results, beating Wall Street's net revenue expectations.
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Net revenue, excluding fees that Google paid to partner websites, was $6.37 billion. Analysts polled by Thomson Reuters I/B/E/S, on average, were expecting net revenue of $6.06 billion.
Reuters