He is seen as a key player in developing Google from a small start-up in California to the global business it is today.Mr Schmidt first joined Google as CEO back in 2001 when the company only had several hundred employees.He’ll also presumably have more free time to spend in his, ahem, soundproof penthouse.
Mr Schmidt said in a statement: “the time is right in Alphabet's evolution for this transition.“The Alphabet structure is working well, and Google is 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.”Alphabet is planning to appoint a new, non-executive chairman at its next meeting in January.
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After ten years as CEO and seven as Executive Chairman, I can’t wait to dive into the latest in science, technology, and philanthropy. We choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard,...
Schmidt will remain on Alphabet's board of directors, but only as a technical adviser on "science and technology" issues.