Larry Page replaces Eric Schmidt as Google CEO

CEO Eric Schmidt has been replaced by google co-founder Larry Page after 10 years in the job.

In a blog post on the Official Google Blog, Eric Schmidt stated that the change was planned over the Christmas period and timed to avoid wild speculation over the latest financial results, (revenue was up 26%.)

The reasons for the change are unclear, but it follows a number of problems with Google's execution and strategy over Android, Google Buzz, Google Wave, the accidental collection of personal data via Wi-Fi and their failure to purchase Groupon, the discount voucher company.  The latest rumours suggest that Google is developing its own clone of Groupon called Google Offers.