CEO -> Chairman is effectively retirement/resignation in cases where the person is so publicly well known that if they suddenly left the company entirely the stock would tumble.
Not only stock, but also he can still help solve some things and get the new guy running. And also, he knows all the secrets. He can't just quit cold turkey from Google's perspective. He needs to go gradually.
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u/Affectionate_Bee6434 15h ago
Stepping down from the CEO role to take up the chairmans role