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Eric Schmidt wants to stay at Google for another 10 years


Eric Schmidt is preparing to sell $326m-worth of shares in Google. Photo: Getty Images

Eric Schmidt is preparing to sell $326m-worth of shares in Google. Photo: Getty Images

Eric Schmidt is preparing to sell $326m-worth of shares in Google. Photo: Getty Images

Eric Schmidt, Google’s outgoing chief executive, has said he expects to stay at the search company, in his new role as executive chairman, for another decade.

Delivering the final keynote talk today at the annual DLD media conference in Munich, Schmidt, who unexpectedly, stepped down as Google’s chief executive last week, said: "I'm very personally excited about my next decade at Google.”

On April 4, Larry Page, Google’s co-founder will take over from Schmidt, who has been the company’s chief executive since 2001.

Schmidt, who has just been granted a $100m (€73m) ‘golden parachute’ payment, also used his keynote to announce that Google would be creating 1,000 more jobs in Europe during 2011.

He said: “I wanted to make an important announcement about Google. We had a very, very good year and a very strong quarter. We looked at this year and in particular our prospects for growth in Europe, and our businesses globally are doing well, both our core business as well as our adjacent businesses, our hockey stick businesses as we call them. It's all very very good.

“And as a result we've decided to make some pretty significant investments, and I'm very happy to announce that we're going to add more than 1,000 employees in Europe this year. We are going to invest in Europe."

Schmidt announced he was stepping down last Thursday after tweeting that the company’s student founders no longer needed “adult supervision”.

Schmidt, who will become Google’s executive chairman on April 4, said: “I believe Larry is ready. His ideas are very interesting and clever and it’s time for him to have a shot at running this.”

On Monday night rumours suggested that Schmidt may be planning a new career hosting TV shows for CNN. The New York Post reported that Schmidt has held talks with the US TV channel, which recently hired Piers Morgan.

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