Last week, Google’s CEO announced that he will step down and allow Larry Page to take over the daily operations at the search engine giant. Dr. Schmidt has lead Google as the CEO for a decade. He has brought the small company from a small startup to a company that generates over $20 billion in revenue yearly.

Since he only takes $1 a year in monetary compensation plus stock, Google is giving him $100 million in stock and stock options as a thank you gift for his service. Moreover, he has already filed to sell $335 million worth of stock he already owns. It’s been rumored that Schmidt has his heart set on being a talk show host.

While Page will continue to run the daily operations of the company, Brin will be concentrating on new and emerging technologies. Larry Page has big shoes to fill and the job looks like it will be getting harder. Facebook has been slowly building up their ranking as most visited site. Moreover, it’s been rumored the two are even poaching each others employees, since their headquarters are practically next door to each other.

Be Sociable, Share!

• 

Search Tags: Facebook, Google, Larry Page, Sergey Brin

This entry was posted on Monday, January 24th, 2011 at 4:55 pm and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.