The current CEO of Google, Eric Schmidt, has announced that he will stand aside from the CEO position to allow co-founder Larry Page to take centre stage. Read our full report here.

He has subsequently let loose through an US SEC (Security - Exchange Commission) filing that he may sell up to $335 million of Google common stock.

According to the SEC filing he has adopted a stock trading plan involving sales of over 534,000 units of Google stock.

Schmidt's current ownership stake is worth a whopping $5.77 billion, only eclipsed by Larry Page and Sergey Brin.

Is Schmidt loosing faith in the Google machine or just buying a summer vacation home ? Tell us in the comments below: