Eric Schmidt Is Out as Alphabet's Executive Chairman

The tenure of Eric Schmidt had its own share of problems

Schmidt will be transitioning to a new position as a technical advisor at the company as he continues to serve on Alphabet's board.

Eric Schmidt is stepping down as the executive chairman of Google parent Alphabet in January.

Larry Page, Alphabet's CEO, echoed Schmidt's claim that the time is right for other leaders to contribute to the company's future.

No reason was provided for the change.

Schmidt has worked in senior roles at Google since he was hired by Google co-Founders Sergey Brin and Larry Page in 2001, Schmidt took to Twitter to announce his stepping down, "After ten years as CEO and seven as Executive Chairman, I can't wait to dive into the latest in science, technology, and philanthropy".

"The Alphabet structure is working well, and Google and the Other Bets are thriving", Mr Schmidt said in the statement, referring to the company's ventures outside of its core search business.

To succeed Schmit, the board is expected to put a non-executive chairman in place.

Dem Senators repudiate demand that Franken resign
A special election will be held in Minnesota to permanently fill the seat timed to next year's midterm elections in November. The common pattern they described included allegations that Franken groped their buttocks or breasts or tried to kiss them.

Cavaliers want Isaiah Thomas to play in G-League before return
Giving Thomas a practice run with the Charge should also brighten the prospects of the Cavs giving a definite date for his return. The final decision on when Thomas will return will be agreed upon by Thomas , Cleveland's front office and their medical staff.

AT&T plans to give employees $1000 bonus after GOP tax bill passage
The House of Representatives on Wednesday sent tax reform legislation to President Donald Trump , who is expected to sign it soon. The Department of Justice is suing to block the company's $108-billion merger with Time Warner , citing anti-trust concerns.

"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", Schmidt said in a release.

Alphabet, which was formed when Google restructured its operations in 2015, now has more than 70,000 employees worldwide, and owns Google Search, Maps, Ads, Gmail, Android, Chrome, and YouTube.

Schmidt was named chairman of Google in March 2001.

During his tenure, Schmidt wound up at the center of a civil suit in USA federal court over an "anti-poaching" agreement involving tech giants Apple, Google, Intel and Adobe.

Page became chief executive at Alphabet, a holding company for the tech giant's search products and "other bets" such Waymo self-driving vehicle unit; Nest smart home gadgets, and Google Fiber internet service.

Forbes, which ranked Schmidt at No. 119 on its list of the world's billionaires, calculates that the outgoing chairman has net worth of $11.1 billion.

Related news:

Hot News

isis-killer-beheading-video-story-top Arsenal and Liverpool Share Spoils in 6-Goal Thriller
Dec 24, 2017 - 02:38
Two minutes later Mesut Ozil put the home team ahead for the first time in the match before Firmino drew level in the 71st minute. In August, Liverpool had all but annihilated Arsenal with their blitzkrieg and a similar story unfolded in the first half.

isis-killer-beheading-video-story-top LG teases a huge 34-inch 5K monitor ahead of CES 2018
Dec 23, 2017 - 02:01
It will have a 98 percent coverage of the DCI-P3 color range and will utilise "Nano IPS" to improve image and color quality. LG's 32 inch Nano IPS screen will feature a standard widescreen aspect ratio of 16:9, different from the ultra-wide's 21:9.

isis-killer-beheading-video-story-top Winter Solstice livestream as it happens from Newgrange
Dec 23, 2017 - 01:57
This is because the tilt of the Earth's axis is least aligned with the sun, providing us with the least daylight of the year. If you're exhausted of these dark evenings, the good news is that our earliest sunsets are already behind us.

isis-killer-beheading-video-story-top Ex-Marine planned Christmas Day attack on San Francisco tourist area
Dec 23, 2017 - 01:48
The FBI executed a search warrant on his home on December 20 and allegedly found multiple firearms and explosives materials. Jameson faces a possible maximum statutory penalty of 20 years in prison and a $250,000 fine.

isis-killer-beheading-video-story-top Blind Salvation Army bell ringer robbed at Houston Walmart
Dec 23, 2017 - 01:23
It was discovered by Salvation Army staff members as they began the counting of the donations received that day. The woman stood in the hallway of the store for approximately one hour before the theft, posing as an attendant.

isis-killer-beheading-video-story-top Cuban Leader Raúl Castro Will Stay In Power Past February
Dec 22, 2017 - 02:09
Cuban President Raul Castro will remain in office until April, the country's government announced on Thursday . The date of the elections was pushed back due to the devastation that Hurricane Irma had on Cuba in September.

isis-killer-beheading-video-story-top When Should We Leave To Beat The Snow — Holiday Travel Weather
Dec 22, 2017 - 02:08
Whatever happens, the day after Christmas will have an appropriate chill in the air. Even a stretch of the Tennessee-North Carolina border could have a white Christmas.

isis-killer-beheading-video-story-top Paul Merson says Alex Oxlade-Chamberlain fits at Liverpool
Dec 22, 2017 - 02:08
The Reds were desperate to sign Virgil Van Dijk last summer, but after the Saints reported them to the FA for illegally tapping up the Dutchman, they back off in a hurry.

isis-killer-beheading-video-story-top Trudeau's vacation broke ethics rules
Dec 22, 2017 - 02:07
Basically, if Trudeau wasn't Prime Minister, he probably wouldn't be so chummy with the Aga Khan, so it's not a true "friendship". Trudeau long maintained he broke no rules because public-office holders are allowed to accept gifts from friends.

isis-killer-beheading-video-story-top Three former Sooners named to Pro Bowl roster
Dec 22, 2017 - 02:06
Meanwhile, Hill is 14th in the league in punt return yards and is one of four players in the AFC with a return touchdown. He has been particularly active in the passing game lately, hauling in 45 of his 80 receptions over the last six games.

Apple has admitted to intentionally slowing down older iPhones
Dec 22, 2017 - 02:03
Since then, Apple has confirmed that it is throttling iPhone performance as iPhone batteries age and their capacity deteriorates. Evidence surfaced last week suggesting a link between the performance capabilities of an iPhone and the age of its battery .

isis-killer-beheading-video-story-top Mama Mia! Is Meryl Dead?!
Dec 22, 2017 - 01:54
Sophie has her answer, everyone's happy, they go off singing, and the story is finished. The sequel welcomes Lily James to the ensemble, taking on the role of a younger Donna.

isis-killer-beheading-video-story-top Jose Mourinho insists Bristol City were 'very lucky' to beat Man Utd
Dec 22, 2017 - 01:40
You expect to see big teams in the semi-finals of cup competitions, even though clubs change their sides up. For some of us it was one more day in the office, for some maybe a day at the office that they didn't want.

isis-killer-beheading-video-story-top Virginia House Dems to vote on would-be speaker
Dec 21, 2017 - 01:30
Under state law, the State Board of Elections now has to break the tie in House District 94 through "determination by lot". The official, Kenneth Mallory, wrote that the ballot had both candidates' names bubbled in for the 94th District race.

isis-killer-beheading-video-story-top Apple Sued by Chinese Clothing Brand Over App Store Logo
Dec 21, 2017 - 01:28
This sucks up resources and often means that one version of an app lags behind the other in terms of features. There's also the question of how the apps could be modernised would need to be for non-touchscreen Macs.