Google’s parent company Alphabet Inc has announced that Eric Schmidt will be stepping down from his position as Executive Chairman of the Board of Directors, becoming a technical advisor to the company while continuing to serve on its board.
Eric has been offering business and engineering expertise and a clear vision about the future of technology to the company since 2001.
“Continuing his 17 years of service to the company, he’ll now be helping us as a technical advisor on science and technology issues. I’m incredibly excited about the progress our companies are making, and about the strong leaders who are driving that innovation, said Larry Page, CEO of Alphabet.”
“Larry, Sergey, Sundar and I all believe that the time is right in Alphabet’s evolution for this transition. The Alphabet structure is working well, and Google and the Other Bets are thriving,” said Eric Schmidt. “In recent years, I’ve been spending a lot of my time on science and technology issues, and philanthropy, and I plan to expand that work.”
“Over 17 years, Eric has been tremendously effective and tireless in guiding our Board, particularly as we restructured from Google to Alphabet. He’ll now be able to bring that same focus and energy to his other passions, while continuing to advise Alphabet,” said John Hennessy, a member of Alphabet’s Board since 2004 and the lead independent director since 2007.