Executive Chairman of Alphabet is Stepping Down

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The parent company of Google, Alphabet, is getting an executive change in the company.

Alphabets executive chairman Eric Schmidt is stepping down from that role and will now become a “technical advisor.”

According to the company, a non-executive chairman will be appointed at its next meeting in January.

Schmidt has been with Google since 2001 as its CEO. He became the company’s executive chairman in 2011 and kept the role even when Google restructured to become Alphabet two years ago.

Schmidt remarked, “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. 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.”

He tweeted that “adult supervision no longer needed.”

Schmidt will be more than likely advising Alphabet now in its Sidewalk Labs, and in Verily and Calico, the company’s
healthcare spin-offs.

Disclaimer: We have no position in Alphabet Inc Class A (NASDAQ: GOOGL) and have not been compensated for this article.