Google: Page up, Schmidt somewhere else.

In a blog post, Eric Schmidt revealed the changes in Google’s top management starting April 4th, 2011. Google co-founder Larry Page will be taking over the role as CEO while Schmidt will be the “Executive Chairman” of the company.

What does the title “Executive Chairman” really mean?

As Executive Chairman, I will focus wherever I can add the greatest value: externally, on the deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership that are increasingly important given Google’s global reach; and internally as an advisor to Larry and Sergey.

Is it like having President and Prime Minister for the Country?
Is it like the Britain?

What changes would Larry Page brings to Google as CEO?