Google in 'surprise shakeup' of top management

Google said the company's other co-founder, Sergey Brin, who along with Page and Schmidt has led the "triumvirate" at the helm of the Internet search giant, would be responsible for strategic projects and new products.

The management changes, which overshadowed the Mountain View, California-based company's announcement of strong fourth quarter earnings, are due to take effect on April 4.

Schmidt, 55, a former chief executive of Novell, will remain with Google as executive chairman, focusing on deals, partnerships, customers and government outreach, Google said in a statement.

He will also act as an adviser to Page, 37, who served as CEO previously, from 1998 to 2001, and Brin, also 37.

"Day-to-day adult supervision no longer needed!" Schmidt said on Twitter in a reference to when the young co-founders brought him in to run the day-to-day operations of the then-fledgling company.

Google has grown over the past decade from a start-up battling other Internet search engines into a technology giant with nearly 25,000 employees and annual revenue of nearly $30 billion.

The company meanwhile reported its fourth-quarter net profit increased to US$2.54 billion from US$1.97 billion a year ago, while revenue rose 26 percent to US$8.44 billion.