Google has just announced their Q4 2010 earnings. Looking them over quickly, they look good. But that’s the secondary story right now. The bigger story is that Google has just announced that co-founder Larry Page will be replacing Eric Schmidt as CEO of the company. This transition will take place on April 4, Google says.

Schmidt will take the role of “Executive Chairman” and will focus on “deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership,” the company says. He will also continue to act as an advisor to Page and fellow co-founder Sergey Brin. Speaking of Brin, he’ll be working on “strategic projects, in particular working on new products,” the company says. So it sounds like no big change there.