Google’s parent company Alphabet has announced that Eric Schmidt is stepping down as the company’s executive chairman. He will stay on at the company as a technical advisor and continue to serve on the Alphabet board.
Alphabet have said that they are looking to appoint a none executive Chairman but have not revealed who this will be as yet.
“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. “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 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.
You can find out more details about the changes coming to Alphabet at the link below.