Alphabet executive chairman and former Google CEO Eric Schmidt steps down from post

Eric Schmidt, former Google CEO and current Alphabet executive chairman, is stepping down from his existing role in Google’s parent company but will transition into a new role as technical advisor and board member of Alphabet. In a statement, Schmidt says, “Larry [Page], Sergey [Brin], Sundar [Pichai] 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.” He also adds that he’d like to continue work related to science and technology issues and philanthropy. Schidmt has worked in senior roles at Google since 2001 when he was brought on by Page and Brin to serve as Google’s chief executive.