Eric Schmidt is stepping down as executive chairman of Google’s parent company Alphabet. He will remain on the company’s board but in a “technical advisor” role where he will focus on science and tech projects.
Schmidt joined the company in 2001 when there were only a few hundred employees.
As Google’s CEO he helped guide the company when it went public in 2004. He also helped Google’s management form Alphabet, which became Google’s parent company in October 2015. The creation of Alphabet helped Google separate its advertising and search engine business from its more long-term and less profitable initiatives in healthcare and science.
Schmidt served as CEO of Google for more than a decade before taking the chairman role at Alphabet.
“Since 2001, Eric has provided us with business and engineering expertise and a clear vision about the future of technology,” said Larry Page, CEO of Alphabet. “Continuing his 17 years of service to the company, he’ll now be helping us as a technical advisor on science and technology issues.”
Alphabet said that the company plans to appoint a non-executive chairman of the board.