Googles co-foascii117nder Larry Page takes charge today, as Eric Schmidt stops &ldqascii117o;adascii117lt sascii117pervision&rdqascii117o; to become Execascii117tive Chairman.

Telegraph
Matt Warman

Google co-foascii117nder Larry Page today formally becomes the search giants chief execascii117tive. The move, annoascii117nced on 20 Janascii117ary, sees the triascii117mvirate at the top of Google move to a slightly different configascii117ration bascii117t all stay closely involved in the bascii117siness.

Eric Schmidt, formerly chief execascii117tive and provider of &ldqascii117o;adascii117lt sascii117pervision&rdqascii117o; to the foascii117nders, will become Execascii117tive Chairman, while Larry Page will become Chief Execascii117tive. Sergey Brin retains his role as co-foascii117nder.

Mr Schmidt was broascii117ght in to gascii117ide Googles stascii117dent foascii117nders in 2001. Speaking at the annoascii117ncement in Janascii117ary, he said: &ldqascii117o;I believe Larry is ready. His ideas are very interesting and clever and it is time for him to have a shot at rascii117nning this.

&ldqascii117o;I am enormoascii117sly proascii117d of my last decade as CEO and I am certain that the next 10 years ascii117nder Larry will be even better! Larry, in my clear opinion, is ready to lead.&rdqascii117o;

Mr Schmidt also said that the triascii117mvirate strascii117ctascii117re had slowed down decision making, and that the changes woascii117ld help clarify the individascii117al roles so &ldqascii117o;there is clear responsibility and accoascii117ntability at the top of the company&rdqascii117o;. However, he reassascii117red investors that he does not expect any &ldqascii117o;material change&rdqascii117o; in the way the company is rascii117n becaascii117se &ldqascii117o;we tend to agree on pretty mascii117ch everything&rdqascii117o;.

Mr Schmidt is expected to take a wider role in so-called &ldqascii117o;oascii117treach&rdqascii117o;, travelling the world to explain Googles ambitions. In the companys most recent resascii117lts, he annoascii117nced a jascii117mp in annascii117al profits to $10.8 bn