Mr. Eric Schmidt, Ex-Chief executive Officer of Internet search engine Google regrets the decision taken by him to not react to the threat by Facebook. Speaking at a conference the ex-CEO said that he regretted not taking timely action when he and his other associates felt the need for Google to come up with new techniques to contacting acquaintances online in the similar fashion as Facebook.

His place has been taken over by Mr. Larry Page, who became the new CEO of Google on 4th April this year. Page felt the pulse of the people and realized a social networking site was need of the hour. Page has immediately gone about creating a social networking site similar to the one created by Facebook, one of Google’s prime projects and has ventured into it with remarkable success.

Schmidt who regrets not facing up to Facebook continues working with Page in the capacity of Executive Chairman.