Alphabet has announced that Eric Schmidt will be stepping down from his role as the executive chairman of the company’s board of directors. Instead Schmidt will be transitioning to a new role as a technical advisor.
Schmidt previously was CEO of Google, back in 2001, before becoming an executive chairman in 2011, while Google co-founder Larry Page became CEO. Schmidt stayed as executive chairman, even after the Alphabet restructuring in 2015.
“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.”
The company said that their board will appoint a non-executive chairman.