Larry Page appointed as Google's chief executive officer

Google co-founder, Larry Page, will become chief executive of the US internet giant in April, according to an article posted on InsideIreland.ie.

Page will take over from Eric Schmidt, who has been in the job for a decade and will become executive chairman.

Google said Mr Schmidt would focus on "deals, partnerships, customers and broader business relationships".

The news came as Google unveiled strong net profits in the last three months of $2.54 billion on revenues of $8.44bn.

Page, 37, is reclaiming the job he relinquished when investors wanted a more experienced business leader.

"In my clear opinion, Larry is ready to lead," Mr Schmidt said in a blog posting.

Mr Schmidt said the management changes, which take effect on 4 April, were part of a plan to "streamline" decision making and create clearer lines of responsibility and accountability.