Schmidt refutes rumors over Google shakeup

From CNET News.com: The decision to hand Google's CEO reins from Eric Schmidt to Larry Page was born not out of internal dissent or competitive fears over Facebook but rather out of the need to tighten up management.

That's the message Schmidt himself has been trying to get across. Though he's spent the past week defending and explaining the impetus behind the executive shuffle, he once again tried to set the record straight yesterday at the World Economic Forum in Davos, Switzerland.

Schmidt worked to quash rumors spread by those claiming to have the inside scoop.

"All of the predicates for why the reorganization happened have not been correct," he told reporters at the conference, according to The Wall Street Journal. "The correct reason is we sat down and said: 'This is a company that needs to be run even more tightly.'"

Schmidt once again defended Page, who's been criticized in some circles as not capable of taking on the CEO mantle, and cited him as the force behind the company's product initiatives.

"When people criticize Larry as the new CEO, that's grossly unfair to Larry," Schmidt told reporters, according to the Journal. "He has been with me at every business decision for 10 years."

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