Google has announced it will replace its chief executive Eric Schmidt with one of its original founders, Larry Page, marking a new era in the company’s history.
Google's co-founder Larry Page (L) will take over from Eric Schmidt (R) as its head
The move ends the firm's decade-long triumvirate management structure between its two founders and its chief executive, which has seen Google grow in dominance and profitability.
The company is worth nearly £148bn and has 24,000 employees.
Mr Page will officially be taking over from 55-year-old Mr Schmidt on April 4.
He started the company with Sergey Brin in 1998 while the two were pursuing PhD degrees at Stanford University.
Mr Schmidt said in his blog that the changes were made to "clarify our individual roles so there's clear responsibility and accountability at the top of the company".
"As Google has grown, managing the business has become more complicated.
"So Larry, Sergey and I have been talking for a long time about how best to simplify our management structure and speed up decision making - and over the holidays we decided now was the right moment to make some changes to the way we are structured," he added.
Mr Schmidt will continue at the company as its executive chairman, working on deals, partnerships and government outreach, and an advisor to Mr Page and Mr Brin.
He has more than 30 years experience in the industry and was previously chief technology officer at Sun Microsystems and the head of Novell Inc, before becoming the Google chief executive in 2001.
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