Eric Schmidt Steps Down as Executive Chairman of Google-Parent Alphabet

Eric Schmidt Stepping Down as Chairman of Google Parent Company

"Continuing his 17 years of service to the company, he'll now be helping us as a technical advisor on science and technology issues".

As chief executive, Schmidt steered Google through its 2004 initial public offering.

In his statement, Schmidt said that he, along with Larry Page and Sergey Brin, see this as the proper time to transition to the new technical advisor role.

Elon Musk Reveals Photos of Tesla Roadster Launching on Falcon Heavy Rocket
Instead, Musk chose to launch his own Roadster into an elliptical orbit around the sun, which he says should last a billion years. At first, when Elon Musk tweeted it out earlier this month, it seemed like something of an April Fool's joke.

Schmidt was named chairman of Google in March 2001.

The change will be effective as of the company's next regular board meeting, in January, Alphabet said in a statement. Some of those "other bets" include self-driving cars, smart thermostats and internet-delivering balloons. He stepped down from the role to serve as Google - and later Alphabet's - executive chairman, a role he's served in until today.

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".

Sri Lanka opt to bowl against unchanged India
Hardik Pandya played an explosive cameo hitting a six and a four before getting out on the third delivery he faced at 10 runs. With the Indian batsman in hot form, the Lankan bowlers wouldn't like to get hammered the same way they were at Cuttack.

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. He steps down with the company firmly in place as the undisputed leader in search and online advertising worldwide. He will continue to serve on the board.

Alphabet shares were down less than a percent in after-hours trading at $1,070.85.

Schmidt was listed as a donor and advisor to the winning campaign by Barack Obama to become United States president in 2008.

Watchdog: Justin Trudeau Is Under Scrutiny Over Alleged Ethics Violations
Her findings make Trudeau the first prime minister to have been found in contravention of the federal conflict of interest rules. Mr Trudeau had previously vacationed on the private island in 2014, when he was an MP.

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

Related News:

Most liked

Jurgen Klopp: Leon Britton could be the right man for Swansea
The result is not what we wanted. "As a team, they work well and that's why it will be a hard task for us to beat them on Friday". It was Ayew's second goal of the season, with his previous league strike coming against Palace at Selhurst Park in August.

Indian Military Says 3 of Its Soldiers Killed in Kashmir
They have fought two of their three wars over the region since they gained independence from British colonial rule in 1947. Indian army said that the dead include an army officer and that Indian soldiers retaliated "strongly and effectively".

Asaduddin Owaisi: Why didn't Rahul Gandhi visit masjid?
The meeting is being attended by former party chief Sonia Gandhi and other members of the party's highest decision-making body.

Former Pentagon official claims aliens visited Earth
It was a "white object, oblong, pointing north, moving erratically", he told CNN's Jim Sciutto on Tuesday evening. Bigelow has spoken about his belief in UFOs visiting the United States as well as the existence of aliens.

Salvation Army Delivers Hundreds Of Christmas Hampers
The campaign also saw a shortage of volunteers leading into December, when a call was put out for a helping hand in Sherwood Park. Spokeswoman Nichole Bazemore said there is a special container for foreign coins and other items found in the kettles.

Conor McGregor: UFC superstar discusses retirement in frank interview
That's what I was saying. "And I don't look forward to getting back in a boxing ring, that's what I don't look forward to. I never said I was gonna fight in the UFC. "I'm not gonna do it, though".

Yes, your older iPhone is being slowed by Apple
And because it's so gradual, progressively shorter battery life is ignored by most people, until it's time for a new iPhone. Battery capacity is generally expected to decrease with age but the iPhone's performance should stay the same.

Companies Turn Tax Breaks Into Bonuses And Wage Hikes
Wells Fargo: The company announced a $15 an hour wage raise for workers, though it did not link it to the passage of the tax bill. Comcast would award special $1,000 bonuses to more than one hundred thousand eligible frontline and non-executive employees.

European Court of Justice proclaims Uber a taxi company
In short, this means Uber will now be officially recognised as a cab company rather than a technology company. The ruling comes on the same day as Uber returns to court to outline an appeal against its London licence.

The Cambridges: William, Kate, George and Charlotte pose for new Christmas card
'George loves anything on wheels and gets to spend hours writing bikes, ' a Middleton family insider previously told Us. For the portrait, William wore a sharp suit and wife Kate looked radiant in a pale blue Catherine Walker skirt suit .

CT to end children's health program unless it gets money from Congress
Meanwhile, several states, including Pennsylvania, are on the verge of running out of funding for this vital program. We need to reauthorize this important program quickly to provide certainty for families across West Virginia.

One vote in recount gives House Democrats 50th seat
Under state law, the State Board of Elections now has to break the tie in House District 94 through "determination by lot". A fourth recount in the Fairfax County-centered 40th District confirmed the victor as incumbent Del.

U.S. existing home sales, prices surge in November
At November's sales pace, it would take a record low 3.4 months to exhaust the current inventory, down from 3.9 months in October. Regionally, sales in the Northeast were up 6.7 percent and the regional median price rose 4 percent to $273,600.

Five Star Defensive End Micah Parsons Commits
Parsons is the third five-star recruit to commit this winter to the Nittany Lions, and the 21st player overall. It also doesn't mean the Parsons violation was his problem, because it wasn't.

Elon Musk Might Be Getting Involved In The Virtual Reality Business
A reporter at CNBC dialed the number Musk posted and discovered a recorded message from the popular videogame " God of War ". Before diving into virtual reality , Carmack built a company that attempted to make a craft for suborbital space tourism.