Google CEO Schmidt Will Not Be Obama’s CTO

President-elect Barack Obama ran on a technology platform that included creating a new cabinet-level position of Chief Technology Officer (CTO). Many names have been thrown around as possibilities with the most prevalent of them all being Google CEO Eric Schmidt.

But Schmidt says that’s not going to happen. He’s happy at Google and he has no plans to go anywhere. He does intend to remain an advisor to Obama.

This is good news since Google likely needs Schmidt to stay put right now. Search advertisers, like many other companies, are bracing to see just how big of a hit they’ll take during the tough economy.

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