Friday, 20 April, 2018

Eric Schmidt steps down as executive chairman of Alphabet, Google's parent company

Alphabet Executive Chairman Eric Schmidt just stepped down Eric Schmidt steps down as executive chairman of Alphabet, Google's parent company
Marty Perkins | 23 December, 2017, 02:02

Eric Schmidt, executive chairman of Google owners Alphabet, is set to step down from his role in January after nearly 17 years with the company.

Alphabet is likely to appoint a non-executive chairman in his wake, the company said. He will still be serving on the company's board, however, and he will be getting a new position: Technical Advisor. According to Schmidt, "The Alphabet structure is working well". Schmidt noted that he will continue o expand his work in technology issues, philanthropy, and science.

CEO and company co-founder Larry Page, who took the reins from Schmidt as part of a campaign to put "more wood behind fewer arrows", celebrated his former nanny's contributions to the sprawling global ad biz.

It is certainly an end of an era. In his tweet announcing the news, there was none of the humor he displayed when he stepped down as Google CEO in 2001, joking that "Day-to-day adult supervision [was] no longer needed!"

These 17 years of service were to Google, which was what Alphabet is now. "I'm incredible excited about the progress our companies are making, and about the strong leaders who are driving that innovation". Google, the world's top search giant, was founded by Page and Sergey Brin in September 1998.




Through a Google spokesman, Schmidt declined to comment. He also provided technical assistance to Hilary Clinton's campaign during the 2016 Presidential race.

In October 2015, Alphabet became the parent holding company of Google, which has more than 70,000 employees worldwide. The company feels he was invaluable to the evolution of the company, as this was done without "throwing away the uniqueness that was Google during those early days".

In a 2009 interview on CNBC, for instance, Schmidt said something about Google users' concerns about privacy that still haunts the company today: "If you have something that you don't want anyone to know, maybe you shouldn't be doing it in the first place".

Ultimately, this move could help Google's public image.

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