Posted January 20, 2011 5:25 pm by with 10 comments

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If you missed today’s earnings call from Google, here’s what you missed:

Google did $8.44 billion in revenue–a  jump of 26%. Net income was up 18% to $2.2 billion. Google ended the quarter with with $33.4 billion in cash and 23,300 employees.

Oh, and Eric Schmidt is no longer the CEO.

Say what?

No kidding! Google’s CEO for the past 10 years is stepping down from that role. In a blog post Schmidt states…

…we have also agreed to clarify our individual roles so there’s clear responsibility and accountability at the top of the company.

Larry will now lead product development and technology strategy, his greatest strengths, and starting from April 4 he will take charge of our day-to-day operations as Google’s Chief Executive Officer. In this new role I know he will merge Google’s technology and business vision brilliantly. I am enormously proud of my last decade as CEO, and I am certain that the next 10 years under Larry will be even better! Larry, in my clear opinion, is ready to lead.

Schmidt will take on the role of Executive Chairman…

…I will focus wherever I can add the greatest value: externally, on the deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership that are increasingly important given Google’s global reach; and internally as an advisor to Larry and Sergey.

A role that sounds a lot like the role he played over the past 10 years–being the grown-up face of the company, while Brin and Page play with algorithms.

Honestly, this news is too fresh to make a fair analysis of what went down. Was Schmidt pushed? Has Page & Brin figured out that Google is, arguably, losing its cool? Does this open the door for Schmidt to jump back on the Apple board?

So many questions, so few answers. What do you think’s going on?

  • Best…headline…ever. Worth at least +50 internets.

    • I couldn´t agree more! In any case he did a fantastic job at Google.

  • Continuing in the fine tradition of not only reporting on the news but making fun of it in the process.

    Awesome headline!

    • LOL. This comment is almost as good as the headline.

      [slow golf clap]

      • Thanks, Lisa. Of course, misspelling my own name just adds to the hijinks.

        Man, we are great here at Marketing Pilgrim aren’t we?!

        Oh no, I just threw up in my mouth a little. I’m done.

  • I’m dying over here because of that headline, I’ve seen this posted on at least 20 other blogs today but I couldn’t NOT come and read your article after seeing that.

  • Thanks everyone, glad you got a chuckle out of the headline! 🙂

  • Whoah, this could be game changing. Thanks for the heads up!

  • I don’t know how to react on this news.. I think he is going to do more wonders for Google in his new role, which he is doing from last 10 years!!! Best of Luck to him.

  • Think everyone was taken aback by the unexpected news.

    It was so unexpected that people don’t even have good theories to throw out yet.