Co-Founder Of Google, Page Takes Over, The Objectives Facebook

Google Inc. co-founder Larry Page will take over as CEO 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 resumption of operations on a daily mark a return to roots technology of Google.

13 years after he and fellow Stanford University students Sergey Brin founded what became the World No. 1 Internet search engines with 29 billion per year in revenue. “Supervision overnight by an adult are no longer needed! Schmidt tweeted after notification.

The news came as Google reported earnings and revenue that blew past expectations. While Google has dominated the Internet research for a decade, the company is struggling to find its footing in the social network with a new crop of Web companies like Facebook and Twitter steal Web traffic and engineering talent.

“Because spending has slowed and restored order in recent years, some of that Google magic is lost,” said Tricia Salinero, Managing Partners Newforth Director, a firm mergers and acquisitions advisory in an e mail. Schmidt, who will step aside on April 4 to accommodate the site, told in an interview that the change was not “a reaction to competition.”

By contrast, he said, was an effort to accelerate decision-making in the company ended the year with about 24,000 employees. “Google has many different businesses and the question we’ve been getting is that there are too many ways (in) these companies can be slow,” Schmidt said. Schmidt, who became CEO in 2001 to provide management expertise to an emerging, will serve as CEO, focusing on deals and awareness of government, among others. Brin will focus on strategic projects.

Shares of Internet search and advertising leader by about 2 percent of $ 639 in extended trading.A few days ago, Apple Inc., Steve Jobs announced a holiday, leaving Lieutenant Tim Cook in charge of daily operations. Like Google, Apple also announced the results this week that beat Wall Street estimates. “The street is thought to be a negative, is likely to be a problem going on.

Google is trying to be more efficient and try to get a man in the seat of technology to compete with Facebook,” said Brian Pitz, an analyst at UBS. “I do not change anything strategically where the company is headed.” The news of the change came as Google reported a 29 percent increase in both net income and net earnings exceed forecasts. Net income, excluding items, of $ 8.75 per share exceeded the average Wall Street forecast of $ 8.10.

Read more articles @ news release