Google makes another executive change

Friday 18 July 2014 07.37
Earnings were higher for Google in the last quarter - though the amount it earns per 'click' is falling
Earnings were higher for Google in the last quarter - though the amount it earns per 'click' is falling

Google’s chief business officer, one of CEO Larry Page's key lieutenants and the company's main liaison to Wall Street, is leaving the Internet search company, the latest high-ranking executive to depart.

Nikesh Arora, who joined Google nearly a decade ago, will move to Japan's SoftBank Corp as vice chairman, according to a post by Page on the Google+ social network.

Omid Kordestani, who has led sales teams at Google for years, will take over in the interim, marking the latest change to Google's senior leadership in past months.

Android operating software boss Andy Rubin stepped aside last year, and Salar Kamangar, head of the YouTube video website, was succeeded in February by longtime Google ad executive Susan Wojcicki.

In April, Vic Gundotra, head of social networking services, said he was exiting.

Mr Arora's surprise departure was announced as Google reported results that beat investors' expectations yesterday.

Revenue in the three months ended 30 June totalled $15.96bn, compared to $13.11bn in the year-ago period. Analysts polled by Thomson Reuters IBES were looking for $15.61bn in revenue.

The world's number one Internet search company said the number of "paid clicks" by consumers on its ads increased 25% year-on-year in the quarter. But the average price of the ads declined 6%.

Google earned $3.42bn or $4.99 per share in the second quarter, versus $3.23bn or $4.77 per share a year earlier. Excluding certain items, Google said it earned $6.08 a share.

Shares of Google were up roughly 1% in after hours trading at $580.