According to Re/code, an organizational reorganization will see Sundar Pichai, head of Chrome and Android, appointed as "czar" of all Google's major products. This includes ads, Search, research, Google+, Maps, commerce, and infrastructure. These duties previously fell on CEO Larry Page. Page will retain his leadership positions, though, at Nest, Calico, Google X, corporate development, finance, and business. Page will also most likely retain final say in most decisions he chooses to be involved in, being CEO and all.
Pichai will remain in charge of Android and Chrome, but his role is obviously vastly increased now. The reason for the change? Larry Page says he needs to be able to focus on the "bigger picture" and can't do that while managing all of Google's various product teams.
The one major product not on the table for managerial changes? YouTube, which will continue to be managed by Susan Wojcicki.
Pichai came to prominence when former head of Android Andy Rubin stepped down early in 2013, and Pichai took his place while retaining his leadership of the Chrome team. His new power over Google+ is also likely meant to fill the void left by Vic Gundotra's departure.