Larry Page To Become CEO Of Google, Eric Schmidt Will Be Chairman (GOOG)

Google GOOG has announced that co-founder Larry Page is going to become the CEO of Google and current CEO Eric Schmidt will become the Chairman. GOOG reported better than expected earnings after the bell and immediately began trading up 2.50%. The stock has since pulled back on this news and is up around 0.60% in the after hours. The changes will be effective as of April 4, 2011.