Eric Schmidt Steps Down as Alphabet Executive Chairman


by Lucas Nolan, Breitbart:

Alphabet, the parent company of Google, announced that Executive Chairman Eric Schmidt will be stepping down to take on the role of “technical advisor.”

The Verge reports that Eric Schmidt, Alphabet executive chairman and former Google CEO, will be stepping down from his current role at the company to act as a “technical advisor,” but will still stay on as an Alphabet board member. Schmidt has worked in senior roles at Google since he was hired by Google co-Founders Sergey Brin and Larry Page in 2001, Schmidt took to Twitter to announce his stepping down, “After ten years as CEO and seven as Executive Chairman, I can’t wait to dive into the latest in science, technology, and philanthropy. I look forward to working with Larry and Sergey on our future here at Alphabet.”

“Since 2001, Eric has provided us with business and engineering expertise and a clear vision about the future of technology,” said Larry Page, CEO of Alphabet in a statement. “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.”

“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 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.”

John Hennessy, Alphabet’s lead independent director stated, “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.” Alphabet also said in a statement that, “The company anticipates that the Board will appoint a non-executive chairman.”

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