Google chiefs to reign for 20 years

 

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By Reuters

Posted on 31 Jan 2008 at 09:16

Google's top three executives have pledged to work together for 20 years in a pact they made shortly before the company's initial public offering in August 2004.

Co-founders Larry Page and Sergey Brin, together with Chief Executive Eric Schmidt revealed their unusual arrangement in an interview with Fortune magazine.

"We agreed the month before we went public that we should work together for 20 years," says Schmidt, who adds that he will be 69-years-old by that time. Page would be 51 and Brin 50.

Schmidt is Google's chairman, Page is president of products and Brin is president of technology. Each is a billionaire.

With a market capitalisation now around $170 billion, the world's most valuable internet company is scheduled to report results for the final quarter of 2007 later today.

Wall Street expects Google to report 2007 revenue around $16.6 billion, an increase of 57% over the previous year.