After nearly 25 years with Google and nine years as YouTube CEO, Susan Wojcicki is stepping down from the CEO spot, reports Vox. In a letter to her colleagues, Wojcicki said she is starting a new chapter of her life focused on her family, health, and projects she is passionate about. In her time at Google, she has held a number of positions including managing marketing, co-creating Google Image Search, working on the acquisitions of YouTube and DoubleClick, and serving as the senior vice president of ads. Google purchased YouTube in 2006 for $1.65 billion in a stock-for-stock transaction.

“I took on each challenge that came my way because it had a mission that benefited so many people’s lives around the world: finding information, telling stories and supporting creators, artists and small businesses. I’m so proud of everything we’ve achieved. It’s been exhilarating, meaningful and all-consuming,” Wojcicki wrote in her letter.

Wojcicki said that chief product officer Neal Mohan will fill her vacated role.

“The time is right for me, and I feel able to do this because we have an incredible leadership team in place at YouTube. When I joined YouTube nine years ago, one of my first priorities was bringing in an incredible leadership team. Neal Mohan was one of those leaders, and he’ll be the SVP and new head of YouTube,” Wojcicki wrote.

“Since then, he has set up a top-notch product and UX team, played pivotal roles in the launch of some of our biggest products, including YouTube TV, YouTube Music and Premium and Shorts, and has led our Trust and Safety team, ensuring that YouTube lives up to its responsibility as a global platform. He has a wonderful sense for our product, our business, our creator and user communities and our employees. Neal will be a terrific leader for YouTube,” added Wojcicki.

For the short term, Wojcicki will stay on during the transition to work with some YouTube teams and meet with creators. She has also agreed to stay on as an advisor to Google and Alphabet.

“This will allow me to call on my different experiences over the years to offer counsel and guidance across Google and the portfolio of Alphabet companies. It’s an incredibly important time for Google—it reminds me of the early days—incredible product and technology innovation, huge opportunities, and a healthy disregard for the impossible,” said Wojcicki.

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Alphabet chief executive Sundar Pichai commented on Wojcicki’s departure in a separate statement, according to The New York Times.

“Susan played a key role in Google’s origin story, and over the years her leadership opened up entirely new chapters for the company,” Pichai said.

The news comes just weeks after Google parent Alphabet reported its fourth quarter and full-year 2022 financial results. Alphabet reported total revenue of $76.0 billion, a 1% increase year-over-year, for the quarter ended December 31, 2022. For the full year, Alphabet reported total revenue of $282.8 billion, a 10% increase year-over-year.

For the full year, YouTube’s ad sales totaled $29.2 billion. For the fourth quarter, Alphabet reported YouTube ad sales of $7.96 billion, down from $8.6 billion year-over-year. The company did not specify its total subscription revenue.

Net income, however, was down. For the fourth quarter, net income was $13.6 billion, or $1.05 diluted earnings per share, compared to $20.6 billion, or $1.53 diluted earnings per share in the prior year period. For the full year, Alphabet reported net income of $60.0 billion, or $4.56 diluted earnings per share, compared to $76.0 billion, or $5.61 diluted earnings per share in 2021.

In the earnings report, Alphabet and Google CFO Ruth Porat said, “We have significant work underway to improve all aspects of our cost structure, in support of our investments in our highest growth opportunities to deliver long-term, profitable growth.”

Insider Take

While leadership changes in tech companies are common and not necessarily noteworthy, this is a big deal. Wojcicki is one of a handful of female executives who have paved the way for others and who is now stepping away. Is this part of the “great rethink” or just another leader who is ready for a change of pace? The New York Times points out that Wojcicki isn’t the only top leader to leave the company recently. Former chief business officer Robert Kyncl and YouTube’s business finance officer Martin Kon left to take positions at other companies.

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