SAN FRANCISCO -- Google Inc. co-founder Larry Page is taking over as CEO in an unexpected shake-up that upstaged the Internet search leader's fourth-quarter earnings.
Page, 37, is reclaiming the top job from Eric Schmidt, who had been brought in as CEO a decade ago because Google's investors believed the company needed a more mature leader. Schmidt, 55, will remain an adviser to Page and Google's other co-founder, Sergey Brin, as Google's executive chairman.
The changes will be effective April 4.
"In my clear opinion, Larry is ready to lead and I'm excited about working with both him and Sergey for a long time to come," Schmidt said.