Here's more from Google about the shake-up:
Starting from April 4, Larry Page, Google Co-Founder, will take charge of Google's day-to-day operations as Chief Executive Officer.
Sergey Brin, Google Co-Founder, will devote his energy to strategic projects, in particular working on new products.
Eric Schmidt will assume the role of Executive Chairman, focusing externally on deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership—all of which are increasingly important given Google's global reach. Internally, he will continue to act as an advisor to Larry and Sergey.