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Former Google CEO and soon to be former Alphabet executive chairman Eric Schmidt just announced his decision to step down from his current role in the company. Schmidt has been the company’s top boss for a decade before he vacated the throne in 2011. He was central to the transition of Alphabet from Google and has been leading its board since it was founded. He will be staying on as an adviser going forward.
Schmidt’s decision to give up his seat as the leader of Alphabet’s board was announced via press release to focus instead on the company’s science and tech divisions. Current Alphabet CEO Larry Page had warm words for his predecessor, expressing excitement over his future contributions to the company.
“Since 2001, Eric has provided us with business and engineering expertise and a clear vision about the future of technology,” Page said. “Continuing his 17 years of service to the company, he’ll now be helping us as a technical advisor on science and technology issues. I’m incredibly excited about the progress our companies are making, and about the strong leaders who are driving that innovation.”
The contributions that Schmidt made to Google’s success cannot be emphasized enough. He basically turned what was basically a side-project into one of the world’s biggest and most successful tech giants, Recode reports. This was largely due to his expertise in engineering and his considerable experience in being a software executive.
Alphabet is expected to replace Schmidt with a “non-executive chairman” at some point next year. In any case, he is confident that the company will do well even without him at the helm.
“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,” Schmidt said. “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.”
