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Google reshuffles the top deck

Friday, January 21, 2011 - 02:01

Jan 21 - Google co-founder Larry Page returns to the chief executive role amid increasing competition from a crop or emerging rivals like Facebook. Jill Bennett reports.

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PLEASE NOTE: THIS EDIT CONTAINS CONVERTED 4:3 MATERIAL A change of the guard at Google. Co-founder Larry Page will become CEO in April, taking the reins from Eric Schmidt, who transformed the sputtering startup with 200 employees into the world's No.1 Internet search engine with 24,000 employees and $29 billion dollars a year in gross revenue. Heath Terry, Director of Internet Research, Canaccord Genuity: SOUNDBITE: HEATH TERRY, DIRECTOR OF INTERNET RESEARCH, CANACCORD GENUITY (ENGLISH) SAYING: "They've been running this company for 10 years now with Eric there in this kind of triumvirate structure that they've worked with. Larry has always been the tech guy, the visionary, the one who really is deep in the engineering and I think ultimately that's where you are going to add value at a company like Google." Page returns to his roots with the CEO job, 13 years after he and fellow Stanford University student Sergey Brin started Google. Now, as Schmidt tweeted the day of the announcement "Day-to-day adult supervision no longer needed!" But, there are fresh challenges to contend with. Analysts say the internet giant can't lose its relevancy in the core search business, as it tries to catch up on emerging web trends, such as social networking. SOUNDBITE: HEATH TERRY, DIRECTOR OF INTERNET RESEARCH, CANACCORD GENUITY (ENGLISH) SAYING: "Facebook and Twitter have taken a lot of share, not of advertising dollars, not of Google's business but really just of users' time. So making sure they are plugged into that growth is going to be important for them. And then the mobile side of the business. Obviously any time you are competing with Android against a company like Apple, that's going to take a lot of focus for them." The leadership news came as Google reported its latest earnings beat forecasts. Many analysts say there is more room to grow as the company's bets on video, mobile and advertising start to pay off. Though many industry watchers agree: Page will have his work cut out for him. Jill Bennett, Reuters

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Google reshuffles the top deck

Friday, January 21, 2011 - 02:01