The executive chairman of Alphabet’s board of directors, Eric Schmidt, has announced that he is stepping down, but will remain on the board as a technical advisor on science and technology issues.
Schmidt joined Google as CEO back in 2001, when the company had several hundred employees. He has played a huge role in the company’s development. Google was founded in 1998, three years before he joined. Ten years later, he became executive chairman and held onto that role when Google restructured to become Alphabet in 2015.
“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. 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.”
At its next meeting in January, Alphabet expects to appoint a non-executive chairman, like Apple and Microsoft have.
Currently, it has over 70,000 employees worldwide, and owns Google Search, Maps, Gmail, Ads, Android, Chrome and YouTube.
(Photo by JD Lasica via Flickr)
More on Alphabet
Softbank-Led Lemonade Gets $120m in New Funding
Lemonade, which provides renters and homeowners with insurance by mobile, said it has raised $120m for its platform, in an...
How Tech Companies Smashed Forecasts
Four of the world’s biggest technology companies, namely Alphabet, Amazon, Microsoft and Twitter beat analysts’ forecasts last Thursday, in an event...
Tax Avoidance Alive and Well in Europe
The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS) marks the culmination of a...