The surprise announcement was hinted by Google's present CEO 55-year-old Eric Schmidt as Schmidt stated in his Twitter account, "Day-to-day adult supervision no longer needed!"
Schmidt will be the Google's executive chairman who will advise Page, who is also a co-founder of the Google.Inc.
"A return to its roots is just what the company needs to catalyze creativity, get employees energized and start taking over markets again," stated Tricia Salinero at Silicon Valley M&A advisory firm Newforth Partners.
The announcement followed the Google's bombshell that upstaged its fourth-quarter earnings.
Google confronted with challenges and threats over growing popularity of social networking sites like Facebook and Groupon.
"That's clearly the trend for the future, that's what most good investors look for now," said Paul Buchheit, an early Google employee credited with creating its Gmail service.
He also continued, "They (Google) want founders who can run the company because that's proven to be one of the best indicators of success of the company."