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Google names new CEO
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August 6, 2001: 4:01 p.m. ET
Search engine taps chairman as CEO; says company is 'quite profitable'
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NEW YORK (CNNfn) - Internet search-engine company Google Inc. on Monday named recently appointed Chairman Eric Schmidt as its new CEO, succeeding the company's co-founder Larry Page, who was named president of the products unit.
The Mountain View, Calif.-based company's founding president, Sergey Brin, was named president of the technology unit. Schmidt previously served as CEO of software maker Novell Inc. (NOVL: Research, Estimates), and remains chairman of Novell's board.
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Eric Schmidt, Google's new CEO. (Source:Google) | |
Schmidt also previously was the chief technology officer at Sun Microsystems (SUNW: Research, Estimates), where he led the development of the Java programming language.
"Eric is exactly the right leader for Google. His strong management experience will help shape Google as we continue our growth and global expansion," Page said. "His extensive technology background and vision for the potential of the Internet complement the efforts that Google is making in defining a leadership position in Internet search and navigation."
In addition, Schmidt said the company achieved a net profit in its second quarter, and posted an operating basis for the last two quarters. He declined to disclose the amount of profit, but he did say, "We are quite profitable. We are not talking about one percent (margins)."
Schmidt also said he expects the company to remain profitable on an operating basis for the foreseeable future.
-- from staff and wire reports 
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