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Eric Schmidt has stepped down as CEO of Google making way for co-founder Larry Page. Schmidt, who has been CEO of Google since 2001, helped to run the daily operations of Google with co-founders Page and Brin. Schmidt reportedly focused on the legalities of running Google in addition to designing and maintaining the corporate infrastructure required to keep a forward thinking and rapidly growing company like Google running smoothly whilst maintaining high standards.

New CEO Larry Page is known for challenging convention. He helped drive Google’s innovative business approach. Page is rumoured to be more cut-throat than Schmidt, who held a comparatively relaxed attitude towards running a company. Page is known to be dismissive and decisive but also very open to new ideas. In fact, Page has recently, and very innovatively, acquired Nortel’s patent portfolio in a massive $900m deal. Whatever Page’s rumoured temperament, it is a sure fire bet that with him in the hot seat, changes are expected to be made rapidly.

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Experts at Nichols and Meyer Capital Partners have noted that a new CEO can greatly affect a company particularly where company policy, direction and personnel are concerned. These factors can greatly impact investor’s faith in stock.

If that is case, investors must be anxious over Jonathon Rosenberg’s sudden departure on the very same day Larry Page started his career as Google CEO. Rosenberg, Google’s head of consumer and business product development, was responsible for the personnel that built the Chrome web browser and Android platform. He also oversaw the development of almost all Google products.

Since the switch at the top of the company, Google’s stock has dropped by about $10 or 1.7%, but a downward trend doesn’t seem likely.

It’s not all doom and gloom, however, as Rosenberg will be returning to Google in a consulting role in a few month’s time. During his time off he plants to work on writing a book with Schmidt about the creation of Google and its management structures. A similar book has recently been published by Steven Levy entitled In the Plex: How Google Thinks, Works and Shapes Our Lives.

The next couple of years will be an interesting time to watch Google as Page tries to prove that google’s innovation isn’t lost and that the company can stll change the way we use computers and technology.

About Nichols & Meyer Capital Partners:Nichols & Meyer Capital Partners provides comprehensive wealth management and financial services with the goal of helping clients to maximize the utilization of their financial resources. We take an intensely personal approach in managing our clients’ wealth and focus on enabling the achievement of life goals based upon each client’s unique situation, individual needs and risk tolerance. – http://www.nmcap.com
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