Google said Thursday that co-founder Larry Page will head up the firm as CEO, as current CEO Eric Schmidt steps down. According to Schmidt, the move came as part of an effort to "simplify" the firm's management structure and speed up decision making. Schmidt said that Page will lead product development and technology strategy, as well as day-to-day operations; Sergey Brin will focus on "strategic projects"'; with Schmidt himself transitioning to Executive Chairman, focused on deals, partners, customers, and "broader business relationships", as well as advising Page and Brin.