Changes at Google

Posted: January 24, 2011 by Jake A in Uncategorized

For a massive company such a Google, any sort of shake up is going to make a big news story. The current CEO Eric Schmidt announced on Thursday that he would be stepping aside as CEO and is selling about 6 percent of his shares in the company. While this news was expected and he will be replaced by co-founder Larry Page in April, his assuming the role of executive chairman. Many people have asked why the changes then? Well according to Google, it is looking to “… streamline decision making and create clearer lines of responsibility and accountability.” This interesting news as it seems the proposed shakeup isn’t really one at all. The other part of the story that struck me is the selling of the shares, which are valued at over $350 million. Maybe Schmidt knows something about the value of them that we do not.


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