Eric Schmidt Stepping Down as Chairman of Google Parent Company

Alphabet Executive Chairman Eric Schmidt just stepped down

The company announces that Eric Schmidt will be stepping down as the Executive Chairman. He served as CEO from 2001 to 2011, overseeing Google's landmark IPO and meteoric rise, before becoming executive chairman.

He will continue to serve on the Alphabet's board of directors, the company said.

"Larry, Sergey, Sundar and I all believe that the time is right in Alphabet's evolution for this transition", he said in the statement.

He led critical initiatives like the Android mobile operating system and oversaw the 2015 restructuring in which Google became a business unit of the Alphabet holding company.

It is certainly an end of an era. During his time as CEO at Google, the trio of Schmidt, Page and Brin were jokingly referred to as the "adult supervision". Around the time of the company's 2004 IPO, the trio reportedly pledged to work together for another 20 years.

Schmidt will remain on Alphabet's board and in January will become a "technical advisor" to a group of folks that have some pretty strong tech experience.

Jose Mourinho believes Leicester City can qualify for the Europa League
Manchester United won't have Eric Bailly, as the central defender will miss around two to three months after undergoing surgery. They fought really hard and are a really good team'. 'In the second half after their goal we were the best team.

In terms of a successor, the inclusion of Pichai in Schmidt's statement, alongside the names of Page and Brin, "was seen as a passing of the torch and the creation of a new power triumvirate", the paper adds.

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.

Through a Google spokesman, Schmidt declined to comment.

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

The key outlet for that philanthropy has been The Schmidt Family Foundation, founded by Schmidt and his wife Wendy in 2006.

Google has also had to tamp down reports that Schmidt sought to remove personal information, including about political donations, from the search engine, which he has denied.

Related News:

  • John Schnatter Net Worth 2018: How Much Is Papa Johns Founder Worth?

    John Schnatter Net Worth 2018: How Much Is Papa Johns Founder Worth?

    Papa John's founder John Schnatter took plenty of heat for his comments about the NFL's handling of anthem protests. At Papa John's, any opportunity is achievable if you dedicate yourself to putting your best foot forward every day.
    Man inspired by New York City rampage planned San Francisco attack

    Man inspired by New York City rampage planned San Francisco attack

    He also offered financial assistance to ISIS , offered to travel to Syria if needed, and said he was ready to die for "the cause". It was signed by Abdallah Abu Everitt Ibn Gordon Al-Amriki and was dated December 16.
    Restaurants will be open Christmas Eve, Christmas Day

    Restaurants will be open Christmas Eve, Christmas Day

    Durham County Record Office has now closed for collections management and will reopen at 8.45am on Tuesday, 2nd January. Niagara Falls Transit will have modified service on Christmas Day and Boxing Day , but offices will be closed.
  • Pop Star Jonghyun's SHINee Bandmates And Fans Pay Final Respects At Funeral

    Pop Star Jonghyun's SHINee Bandmates And Fans Pay Final Respects At Funeral

    It can cause physical symptoms such as headaches, sleeplessness and constant tiredness which may last for months and months. The "Tell Me What To Do" singer was found unconscious in an apartment he was renting in Seoul's Cheongdam-dong district.
    Everton vs Chelsea - Betting Tips and Predictions

    Everton vs Chelsea - Betting Tips and Predictions

    Wayne Rooney has scored 10 league goals in this term in 16 apperances, his best haul at this stage since the 2011-2012 campaign. Antonio Conte's side haven't been putting in dominant performances of late but have at least been getting the desired results.

    United Continental Holdings, Inc. (UAL) on Focus After Forming Bearish Double Bottom

    The stock has "Market Perform" rating by Cowen & Co on Wednesday, January 4. (NASDAQ:DEPO) rating on Thursday, December 3. The existing P/E value will allow investors to easily determine whether the company's stock price is cheap or expensive.
  • Vince McMahon has made a big move as XFL speculation heats up

    Vince McMahon has made a big move as XFL speculation heats up

    Now, years removed the league sinking, it looks like McMahon and Co. are looking to get back in the football business. McMahon's sale represents ~4.3% of the company's total outstanding Class A and Class B common stock.
    Elon Musk's Roadster Is All Prepped-Up for Its Mars Voyage

    Elon Musk's Roadster Is All Prepped-Up for Its Mars Voyage

    It's unlikely the Tesla will be empty, just playing David Bowie's song " Space Oddity " on repeat. SpaceX's current workhorse rocket, the Falcon 9, can lift about 50,000 pounds to low-Earth orbit.
    Sixty pounds of marijuana seized

    Sixty pounds of marijuana seized

    The couple said they planned to "distribute the marijuana to family and friends as Christmas gifts". During the traffic stop, the deputies smelled raw marijuana and asked the driver about the odor.
  • Euro dips after Catalan separatists secure narrow victory

    Euro dips after Catalan separatists secure narrow victory

    It has also bitterly divided Catalan society between those who support independence and those who favour unity with Spain . But Catalonia's political landscape remains crowded and complicated and it is hard to see a way forward through it.
    Coinbase trading is down after Bitcoin price plunges

    Coinbase trading is down after Bitcoin price plunges

    And on Thursday, Bank of Japan governor Haruhiko Kuroda called bitcoin's price surge "abnormal", according to Bloomberg. The two countries had dominated trading volume for major cryptocurrencies in the last several months.
    Liverpool hold Arsenal to 3-3 draw

    Liverpool hold Arsenal to 3-3 draw

    ET on NBCSN and online via NBCSports.com ) in a huge top four clash to kick off the festive feast of Premier League action. Liverpool , in their lurid orange away kit, suffered an early blow when captain Jordan Henderson limped off injured.


Most liked

49ers will be tested on both sides of ball against Jaguars
They have four Pro Bowlers - defensive linemen Calais Campbell and Malik Jackson, and cornerbacks Jalen Ramsey and A.J. But in the last three weeks, all home victories, Bortles averaged more than 300 yards and had a 128.6 rating.

A line-up with Gabriel Jesus and Kylian Mbappe
After a glittering trophy laden career as a player, Giggs became United's No.2 under Louis van Gaal . "I watched Mbappé for a year".

Sportscaster Dick Enberg found dead at home at age 82
Enberg died Thursday at his La Jolla home from a possible heart attack, his wife Barbara told the San Diego Union-Tribune. Enberg was born January 9, 1935, in the Detroit suburb of Mount Clemens, Michigan and raised in nearby Armada.

LG's first Nano IPS-based monitor to become official at CES, 2018
The LG 32UK950 also features razor-slim bezels thanks to a 4-Side Edge Borderless design and a built-in Thunderbolt 3 dock. LG says it "involves the application of nanometer-sized particles to the screen's LED to absorb excess light wavelengths".

Miss America Organization Rocked By Internal Email Scandal
The Huffington Post article shows that Haskell and others directed considerable attention to Hagan, who won the 2013 pageant. The 2013 victor from NY said she felt Haskell had stunted her career as a pageant coach by spreading negativity about her.

Unheard, Sachin Tendulkar gives speech on Facebook
He also appealed to Finance Minister Arun Jaitley to ensure funds for the development of sports infrastructure in the country. Sachin went on to say, "It is my endeavour to transform India from being a sport-loving nation to a sport playing nation".

We want to see Parliament function, but PM is stubborn: Congress
It was proved by the fact that they had got bank drafts prepared on back dates, he said . TKA Nair and Pulok Chaterjee were working as advisor and principal secretary of Singh.

7-Year-Old Boy Shot, Killed by Deputies After Manhunt for Felon
Kameron was home because his school let out students at noon for the Christmas break, according to the San Antonio Express-News . The boy was sitting inside the trailer when he was struck in the mid-region by a stray bullet that penetrated the divider.

Amazon acquires smart home video platform Blink
The main difference is that Blink's products work wirelessly, while Amazon's existing options usually need to be plugged in. Blink also has significantly cheaper prices for its cameras compared to its competitors, and even the ones Amazon's made.

Princess Michael Responds to Backlash Over Her Racially Insensitive Brooch
It is not clear if Princess Michael was still wearing the brooch - which depicts a black man in a gold headdress - as the two met. Princess Michael of Kent , 72, was snapped arriving at Buckingham Palace with a blackamoor brooch pinned to her shoulder.

Samsung Galaxy J7 Nxt 32GB Version Launched; Specifications & More!
The device runs Android Nougat out of the box with Samsung's new UI on top, the same one seen on its flagships S8 and S8 Plus. A new image added to the speculations that the Samsung Galaxy S9 will dedicate a better location for its fingerprint scanner.

Dutch Journalist Debunks US Ambassador's 'Fake News' Claim to His Face
Hoekstra is a native-born Dutchman who immigrated with his parents to the United States at age 3 and grew up in West Michigan. Hoekstra was born in the Netherlands but left when he was 3 and was raised in the U.S.

Salvation Army distributes "Angel Tree" gifts
Additionally, someone recently gave The Salvation Army an impressive coin collection worth $1,500. The Salvation Army has occupied the work space since December 1.

'Rolling Stone' Sells Majority Interest To Penske Media Corporation
While terms of the deal weren't disclosed, multiple reports cited sources saying the deal valued Wenner Media at $100 million. Note that in Rolling Stone's absence, no one has really created a dominant digital destination for music-related content.

Netflix Will Release Two Dave Chappelle Stand-Up Specials on New Years — Surprise
I know that rich white people call poor white people trash. 'I saw some angry faces and some determined faces, but they felt like decent folk.