Wednesday, 24 October, 2018

Eric Schmidt is stepping down as Alphabet's Executive Chairman

Eric Schmidt is stepping down as Alphabet's Executive Chairman Eric Schmidt is stepping down as Alphabet's Executive Chairman
Steve Townsend | 23 December, 2017, 02:01

"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. Henceforth, Eric will serve the company as the technical advisor on matters of science and technology, besides being a member of the board as well.

Schmidt plans to expand his work and spend more time on his other passions-science and technology, as well as, philanthropy.

No reason was given for the sudden departure, which will likely lead to some speculation in the coming weeks.

Eric Schmidt, speaks during a press conference ahead of the Google DeepMind Challenge Match in Seoul, South Korea.

Schmidt revealed that he, Larry, Sergey and Sundar agreed the move as in the best interests of the company and its evolution, adding that the Alphabet structure is working well, and that Google and its ancilliary activities "are thriving".

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The Alphabet statement detailed that it expected to replace Schmidt with a non-executive chairman at the January Board meeting.

Schmidt joined Google as CEO back in 2001, when the company had several hundred employees.

Page and Brin founded Google in September 1998.

"I'm incredibly excited about the progress our companies are making, and about the strong leaders who are driving that innovation", he said. 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. In the Alphabet announcement on the subject, the company suggested they anticipate their Board will appoint "a non-executive chairman". I look forward to working with Larry and Sergey on our future here at Alphabet.

After officially stepping down from the top role in January, he will also become a technical advisor, fixing the Wi-Fi and whatnot. Don't believe me? Fast Company even published an article highlighting some of his creepiest comments.

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