Alphabet is all set to have a new face to take up the role of Executive Chairman of the Board of Directors now that Eric Schmidt has announced his retirement from the position. Henceforth, Eric will serve the company as the technical advisor on matters of science and technology, besides being a member of the board as well.
The new role for Eric, that of a technical advisor is again something that perhaps comes to him most naturally, having done the same for the past 17 years that he has been associated with Google. Eric also said he has been involved on philanthropic matter off late, something that he wishes to devote more time to from now onwards.
This also does not seem to be a surprise development, with Eric having kept the top leadership at Alphabet in the loop with his decision.
“Larry, Sergey, Sundar 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,” said Eric Schmidt. “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.”
Eric has been with Google since 2001 when he was appointed as the CEO, a role he served with glory until handing over the reins to Page in 2011. Four years later, the company restructured to form Alphabet as the parent company of Google and other subsidiary organizations.
Page continued to be the CEO of Alphabet while Sergey served as president, roles that both continue to hold on to till now. That was also when Sunder Pichai took over as the head of Google though this also happens to be the last time the Mountain View company has seen a major restructing in its top order.
There is no word yet as to what caused Eric to step down though what seems evident is that it is purely out of his own personal considerations. The company meanwhile stated the board could appoint a new non-executive chairman when it meets next in January 2018.