In a wholly unexpected move, Google’s Eric Schmidt has announced he is stepping down as CEO and handing over control of the company to co-founder Larry Page. Schmidt was originally brought aboard in 2001, when Google was still in its infancy. Along with co-founders Larry Page and Sergey Brin, Schmidt helped turn the company into a tech behemoth with $25 billion in annual revenue. Schmidt will stay on Chairman of the Board, with Page as CEO, and Brin as co-founder in charge of new initiatives.
FILED UNDER: Google