When Google’s Chief Executive Eric Schmidt stepped down last week the entire internet went into a frenzy. Questions arose if he would be leaving the company and what it means for the powerhouse that is Google. Well in his final keynote today at the DLD Media Conference in Munich, Schmidt said: “I’m very personally excited about my next decade at Google.”

Schmidt has just been granted a $100 million golden parachute payment sees Google no longer needing his “adult supervision,” and feels that Larry is ready to take the lead.

Also at the media conference, he announced Google is on track to introduce 1,000 employees in Europe this year, as they shift focus to the region.

“I wanted to make an important announcement about Google. We had a very, very good year and a very strong quarter. We looked at this year and in particular our prospects for growth in Europe, and our businesses globally are doing well, both our core business as well as our adjacent businesses, our hockey stick businesses as we call them. It’s all very very good. And as a result we’ve decided to make some pretty significant investments, and I’m very happy to announce that we’re going to add more than 1,000 employees in Europe this year. We are going to invest in Europe.”

Schmidt is definitely not leaving the company. In fact, he will become Google’s executive chairman on April 4, when he steps down.