Google's Eric Schmidt is stepping aside as chief executive in April, and co-founder Larry Page is taking over.

"Google also announced that its board of directors had approved certain changes to Google's management team," the company said in a filing with the Securities and Exchange Commission. "Larry Page, Google's co-founder and president of products, will become Google's chief executive officer, effective April 4, 2011. Eric Schmidt, Google's current chief executive officer, will continue as the chairman of the board of directors and will serve as Google's executive chairman."

As executive chairman, Google said, Schmidt will act as an advisor to Page and Sergey Brin, Google's other co-founder and president of technology.

Schmidt will also assist with Page's transition to CEO, The Los Angeles Times reported.