Larry Page, a co founder of Google, is to take over a Chief Executive of the global giant in April.
The company, which is now one of the largest in the world, is currently run by Eric Schmidt, and has been for the last ten years. Schmidt will step down to a roll as executive chairman and will still work for the company.
Mr Schmidt will now oversee broader business relationships and deals, partnerships and customers.
The move is a huge surprise, on the back of Google posting three month profits of £1.6billion from revenues of around £6million.
The changes will take place on April 4th, and answer Google’s desire for a more experienced business leader. The plans to streamline decision making are hoped to create clearer lines of responsibility and accountability.
“We’ve been talking about how best to simplify our management structure and speed up decision making for a long time,” Mr Schmidt pointed out.
“Larry will now lead product development and technology strategy, his greatest strengths… Sergey (Brin, Google’s other founder) has decided to devote his time and energy to strategic projects, in particular working on new products. His title will be co-founder.”
Revenues were up by 26% in the pre Christmas advertising market, further cementing Google’s position as market leaders.