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Eric Schmidt is stepping down as CEO of Google and Larry Page is taking over, the company just announced in its earnings release.

Schmidt will become Executive Chairman, focused on "deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership," the company says.

Google's other cofounder, Sergey Brin, will take a more active role in strategic projects including product.

To read the full, original article click on this link: Eric Schmidt Out As Google CEO, Larry Page Takes Over

Author: Jay Yarow