The company on Monday announced that it has tapped its chairman, Eric Schmidt, 47, for the top post. He succeeds Larry Page, one of the co-founders of Google, a search engine that has rapidly gained traction and that has a reputation for fast, efficient and targeted searches.
The Mountain View, California-based company has luminary venture capital backers such as Kleiner Perkins Caufield & Byers and Sequoia Capital.
Like many start-ups with grand plans, the privately held company is replacing its founders with more experienced top management as it grows. Starting in 1997, Schmidt served as the chief executive and chairman of software maker Novell. Although he has remained Novell's chairman, he has been serving as chairman of Google since March.
"(Schmidt's) strong management experience will help shape Google as we continue our growth and global expansion," Page said in a statement.
Page, the 28-year-old founding CEO, will serve as president of products, while co-founder and president Sergey Brin, 27, will serve as president of technology.
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