The success of some technology businesses in nothin short of amazing. Microsoft, e-bay, Google, facebook all spring to mind.
At the search engine giant (Google), co-founder Larry Page is to take over from Eric Schmidt as chief executive in April. Schmidt will become executive chairman to look after “deals, partnerships, customers and broader business relationships”.
Page (37) is taking back the job that Google gave to Mr Schmidt (55) when investors said they wanted a more experienced leader at the helm.
Schmidt said of Page and co-founder Sergey Brin: “In my clear opinion, Larry is ready to lead and I’m excited about working with both him and Sergey form a long time to come.”
Google’s net profits in the last three months were $2.54bn, but Google had lost some momentum recently. Key staff have been lost and Larry Page will have the task of re-energising the business.
After-hours trading on Wall Street saw Google’s shares climb about 2% in value to $639 a share on the news.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment