'Creepy' Eric Schmidt no longer Executive Chairman at Alphabet (Google)

23 December, 2017, 02:04 | Author: Otis Hoffman
  • 'Creepy' Eric Schmidt no longer Executive Chairman at Alphabet (Google)

Eric Schmidt, who has been working with Google's parent company Alphabet as an executive chairman of the board of directors, for a long time has chose to step down.

He will transition to a role of technical advisor to the company while continuing to serve on the company board.

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. The company meanwhile stated the board could appoint a new non-executive chairman when it meets next in January 2018.

"I look forward to working with (Google founders) Larry (Page) and Sergey (Brin) on our future here at Alphabet", he tweeted. Schmidt noted that he will continue o expand his work in technology issues, philanthropy, and science.

This move ends a 17-year run that Mr. Schmidt has had playing central roles with Google and Alphabet.

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Schmidt departs at a time when Google is still riding high as the world's second-most valuable corporation by market capitalization, behind only Apple. Alphabet has confirmed in a statement to TechCrunch. "I'm incredibly excited about the progress our companies are making, and about the strong leaders who are driving that innovation".

Schmidt was hired as the company's first outside CEO in 2001, having previously served as CEO of Novell, a now-defunct Utah-based software company. He also provided technical assistance to Hilary Clinton's campaign during the 2016 Presidential race.

"Over 17 years, Eric has been tremendously effective and tireless in guiding our Board, particularly as we restructured from Google to Alphabet".

In the meantime, Google is under fire, along with other tech giants, as legislators seek to deal with the perceived monopolies these companies have. In recent years, Schmidt has taken to philanthropy.

The company is also in the midst of a nightmare with the European Commission.

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