Google Realigns Top Ranks

Google says CEO Eric Schmidt will take the role of executive chairman, while co-founder Larry Page will become CEO.

Sergey Brin, whose new title will be "Co-Founder," will work on "strategic projects," Google said.

Schmidt will focus on external partnerships and business deals starting on April 4, when Page will take over the day-to-day management role.

"Larry will now lead product development and technology strategy, his greatest strengths," says Schmidt. "Sergey has decided to devote his time and energy to strategic projects, in particular working on new products."

Official Google Blog: An update from the Chairman