Power Shifts Atop Google

Google Inc. surprised the technology world by naming co-founder Larry Page to replace longtime Chief Executive Eric Schmidt, the biggest management shake-up since the Internet search giant was an obscure California start-up.

Mr. Schmidt, who has been chairman and CEO but shared decision-making with Mr. Page and co-founder Sergey Brin, is stepping aside in April into the new post of executive chairman.

The company, which has grown into the world's biggest Web company by market capitalization since its 2004 initial public offering, said it was making the changes to "streamline decision making and create clearer lines of responsibility and accountability."

In a letter posted on Google's blog, Mr. Schmidt, 55, said the company's rapid growth has made managing business "more complicated." He said that a decision was made "over the holidays" to change the company's structure.

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