Alphabet’s Executive Chairman Eric Schmidt is Stepping Down

The executive chairman of the board of directors at Google’s parent company, Alphabet, is set to step down next month, said the company.

However, Eric Schmidt will remain with the company as a technical adviser to the company’s board.

Schmidt said in a tweet: “After ten years as CEO and seven as executive chairman, I can’t wait to dive into the latest in science, technology, and philanthropy. I look forward to working with Larry and Sergey on our future here at Alphabet.”

The company stated that it anticipates that the board will appoint a non-executive chairperson.

Alphabet’s chief executive, Larry Page, stated: “Since 2001, Eric has provided us with business and engineering expertise and a clear vision about the future of technology. Continuing his 17 years of service to the company, he’ll now be helping us as a technical advisor on science and technology issues. I’m incredibly excited about the progress our companies are making, and about the strong leaders who are driving that innovation.”