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by Stephen Logan on 21st January 2011
The future of internet search giant Google "is bright", users have been assured.
Eric Schmidt, who previously held the role of chief executive officer (CEO), has revealed he will now be named executive chairman.
He reassured users of pay per click services that the company will continue to progress, while the move will place co-founder Larry Page as CEO.
"Search has quite literally changed people's lives – increasing the collective sum of the world's knowledge and revolutionising advertising in the process," Mr Schmidt said.
He noted himself, Mr Page and co-founder Sergey Brin have been discussing how to simplify the management structure for some time, with the three representatives equally involved in the decision-making process over the past ten years.
Mr Brin will take the title of co-founder and work on new projects, which may involve those aimed at pay per click clients.
The news follows the findings of the comScore search engine rankings, which placed Google at the top of the US market.