Larry Page Will Become Google CEO on April 4

New Google's quarterly earning report has revealed not only the company's current financial situation but also the fact that Google's chief executive (and by the way former member of Apple's board) Eric Shmidt will be soon replaced by Google's cofounder Larry Page.

Another cofounder Sergey Brin will also participate more actively in strategic projects and product development. These management shakeup are announced to become effective on April 4.

Shmidt explained such company's changes in Google's official blog:

"For the last 10 years, we have all been equally involved in making decisions. This triumvirate approach has real benefits in terms of shared wisdom, and we will continue to discuss the big decisions among the three of us. But we have also agreed to clarify our individual roles so there’s clear responsibility and accountability at the top of the company."

After changes will take place Schmidt will handle "deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership".

Eric Shmidt was also an Apple's board member for three years, from August 2006 to August 2009, when Google entered the market of handsets and started releasing Android-based smartphones. Officially he was excluded "due to potential conflicts of interest", according to Jobs' words.