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Eric Schmidt to step down as executive chairman of Alphabet

It said in a statement on Thursday that Schmidt will become a technical adviser to the company while continuing to serve on its board.

IANS  |  San Francisco 

Google-parent Alphabet revenue rises more than expected

Alphabet, the parent company of tech giant Google, has announced that is stepping down as executive chairman of the board of directors in January 2018.

It said in a statement on Thursday that Schmidt will become a technical adviser to the company while continuing to serve on its board.

"After ten years as CEO and seven as Executive Chairman, I can't wait to dive into the latest in science, technology and philanthropy," Schmidt said in a tweet.

"I look forward to working with (founders) Larry (Page) and Sergey (Brin) on our future here at Alphabet," he tweeted.

"Larry, Sergey, (CEO Inc) Sundar (Pichai) and I all believe that the time is right in Alphabet's evolution for this transition.

"The structure is working well, and and the Other Bets are thriving," Schmidt said in the statement.

Larry Page, CEO of Alphabet, praised Schmidt for his long-standing efforts since he joined Google in 2001 for providing the company "with business and engineering expertise and a clear vision about the future of technology".

said that its board will appoint a new, non-executive chairman at its next meeting in January.

Google, the world's top search giant, was founded by Page and Sergey Brin in September 1998.

In October 2015, became the parent holding company of Google, which has more than 70,000 employees worldwide.

First Published: Fri, December 22 2017. 09:10 IST
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