Published: Sat, December 23, 2017
Medical | By Josefina Yates

Eric Schmidt Is Stepping Down From Alphabet Inc (GOOGL)

Eric Schmidt Is Stepping Down From Alphabet Inc (GOOGL)

Google-parent Alphabet Inc. said Eric Schmidt will step down from his post as executive chairman in January and transition to a role as technical adviser.

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

Schmidt will remain on Alphabet's board and in January will become a "technical advisor" to a group of folks that have some pretty strong tech experience. "The Alphabet structure is working well, and Google and the Other Bets are thriving", said Eric Schmidt. Schmidt noted that he will continue o expand his work in technology issues, philanthropy, and science. During his time as CEO at Google, the trio of Schmidt, Page and Brin were jokingly referred to as the "adult supervision".

"I look forward to working with (Google founders) Larry (Page) and Sergey (Brin) on our future here at Alphabet", he tweeted.

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Eventually the board will likely appoint a "non-executive chairman", but no timeline for this was given.

Schmidt also had a seat on Apple's board of directors from August 2006 until three years later when Google's ambitions for Android became problematic for Apple. But it is one of the most significant personnel shifts at the Internet giant since Page took over as chief executive in 2011, and especially because Schmidt has been such a willing public face of the company for so long.

While Schmidt left the role of CEO, he has been acting as the company's executive chair ever since - and took on the same role at Alphabet, formed in 2015 to act as a parent company for Google and associated ventures. He has been eclipsed in Washington by others at Google, including Susan Molinari, a former Republican congresswoman from NY, said some of the people familiar with the company. He has played a huge role in the company's development.

This article was originally published by The Hollywood Reporter.

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