Google parent company Alphabet's executive chairman is stepping down

23 December, 2017, 02:03 | Author: Samuel Hayes
  • Alphabet Executive Chairman Eric Schmidt just stepped down

Eric Schmidt has quit as executive chairman of Alphabet, Google's post-restructuring parent.

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

The decision of leaving such important role was made after consulting with Google's founders Larey Page and Sergey Brin, as well as Google CEO Sundar Pichai.

Schmidt, who Forbes ranked Schmidt as the 119th-richest person in the world in 2017, served as the CEO of Google from 2001 to 2011, a period which laid down the foundations for Google's dominance today.

"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", said Schmidt.

He took the company public in 2004.

Schmidt took over the helm when Google was a three-year-old company run by the relatively inexperienced Brin and Page.

More news: The Apple Watch 4 could get a proven, life-saving feature

Google is still the main contributor of Alphabet's revenue and income.

You can read the entirety of the statement over on Alphabet's investor site. Schmidt joked he provided the "adult supervision" to the Google team.

Schmidt has been marginalised over time at Alphabet through a combination of its changing leadership, the shifting political environment in the United States, and his own personal gaffes, according to people familiar with the company, who spoke on the condition of anonymity because they were not authorised to speak publicly.

He also gave money and technical assistance to Hillary Clinton's campaign team during the 2016 presidential race. Four years later, the company restructured to form Alphabet as the parent company of Google and other subsidiary organizations.

Like many high-profile tech figures, Schmidt has increasingly turned his hand to philanthropy.

The company is also in the midst of a nightmare with the European Commission.


  • Five things you should know about the shortest day of the year

    Five things you should know about the shortest day of the year

    The annual pagan celebration, also known as midwinter, signifies the astrological start of the winter in the Northern Hemisphere. At the end of January, more heat finally begins arriving than leaving, and days slowly start to warm up.
    Reported flu cases triple locally

    Reported flu cases triple locally

    Symptoms of influenza include fever, cough, sore throat, runny or stuffy nose, body aches, headache, chills and fatigue. The most compelling statistic is the increase in reported flu cases from this time past year .
    UN General Assembly To Condemn US' Jerusalem Decision

    UN General Assembly To Condemn US' Jerusalem Decision

    Haley defended the veto on Monday, saying that the Security Council resolution was an affront to USA sovereignty. Trump also plans to move the United States embassy to Jerusalem from Tel Aviv.
  • House offers short-term funding for children's health insurance

    House offers short-term funding for children's health insurance

    The temporary funds would be approved by a continuing resolution bill and the Senate needs to vote on that too. Foxhoven says he thinks CHIP will be reauthorized, but he says Congress has been unpredictable.
    All hands on deck for USPS' busiest day

    All hands on deck for USPS' busiest day

    Nothing quite beats receiving a special delivery in time for Christmas. except perhaps magically finding presents under the tree. Post offices nationwide are working tirelessly to make sure those packages make it to their destinations before December 25.
    State Says Flu Activity Now

    State Says Flu Activity Now "Widespread"

    Experts say it's still not too late to get your 2017-18 shot. "We have to wait and see what happens from there", he said. So far this flu season, there have been 401 flu-associated hospitalizations in Ohio.
  • Meryl Streep #SheKnew posters pop up in LA over Harvey Weinstein fallout

    Meryl Streep #SheKnew posters pop up in LA over Harvey Weinstein fallout

    Joining McGowan in the video are other Weinstein accusers, as well as women who toppled Louis C.K . for years of harassment. She also criticised Streep for working with the producer and affecting "no real change", saying "I despise your hypocrisy".
    Eels respond to Hayne rape allegations

    Eels respond to Hayne rape allegations

    It is believed the woman initially reported the incident to the San Jose Police Department in May 2016. U.S. attorney John Clune has made a name for himself taking on star athletes in court.
    China strongly condemns terrorist attack in Quetta

    China strongly condemns terrorist attack in Quetta

    The most fatal attack was the double-suicide blast on a Peshawar church , which killed 85 people in September 2013. Two suicide bombers have stormed a Christian church in southwestern Pakistan , killing at least four people.
  • Jose Mourinho to bring Manchester United player back from cold?

    Jose Mourinho to bring Manchester United player back from cold?

    The playmaker operated as a No.10 and was starting to look the player that was voted the Bundesliga Player of the Year in 2015-16. The Armenian has a contract until 2020 with Manchester United, but Mourinho is expected to entertain offers for him in January.
    US Sanctions Chechen Chief Kadyrov for Human Rights Abuses

    US Sanctions Chechen Chief Kadyrov for Human Rights Abuses

    US citizens and residents also are generally prohibited from engaging in transactions with the sanctioned individuals. Administration added five more citizens of Russian Federation , including Ramzan Kadyrov , to the Magnitsky List.
    Ofcom: Mobile Users Will Be Able To Switch With A Single SMS

    Ofcom: Mobile Users Will Be Able To Switch With A Single SMS

    The provider must supply the code immediately, as well as info on any outstanding charges, prepaid balance or termination charges. Under Ofcom's new rules, mobile providers will also be banned from charging for notice periods running after the switch date.


1st trailer for 'Mamma Mia!: Here We Go Again' released
Extra casting bonus: Cher , in her first role since 2010, is playing Donna's mother, Ruby. Of course, there was a long list of ABBA songs to tie the whole thing together.

Jeep Cherokee reveals its new face
Official images of the 2019 Jeep Cherokee SUV have been released and as expected the new-gen model comes with a host of changes. The SUV also comes with electrically operable ORVMs, side cladding, and some bold character lines.

Isaiah Thomas set for possible Cavs debut against the Boston Celtics
At one point Thomas told his son, James, he hopes to win a championship with his new team, the Cleveland Cavaliers . Yahoo Sports has reported that Thomas was targeting the first week of January for a return.

Ola acquires Foodpanda India, re-enters food delivery business
Under the agreement, Ola , owned by ANI Technologies , will also commit to investing $200 million in foodpanda's India business . Saurabh Kochhar, who was the head of Foodpanda India until recently, has chose to move on to pursue other opportunities.

Facebook says it wants your face data in the name of privacy
Facial recognition may make the world safer , or more authoritarian , or just weirder - depending on your perspective. It's easy to identify your face if Facebook is only looking for you among the photos your friends have uploaded.

New NIO ES8 electric SUV is a cheaper Tesla Model X
Chinese buyers looking to get away from cars that pollute have a new green option available called the NIO ES8 . The company plans to build a total of 1,100 Power Swap stations and deploy 1,200 Power Mobile vehicles by 2020.

First Teaser for Disney's "The Nutcracker and the Four Realms" Debuts
Let us know your thoughts down below! What did you think about the first trailer for The Nutcracker and the Four Realms? There may be a greater goal behind Clara's fantastic adventure that could determine the fate of the four realms.

Manchester City join race for Wilfried Zaha
Under Roy Hodgson , he has seen a real upturn in form this term, proven with his goal in the Eagles' 3-0 win at Leicester over the weekend.

Police investigating death of British embassy worker in Beirut
Markings on her body indicate that a tiny rope was used to strangle her and that she fought her attacker, the official said. In a statement posted on social media, her mother wrote: "RIP Rebecca Dykes 1987-2017".

SpaceX goes for its 17th launch of 2017 ars_ab.settitle(1233089)
Then the company delayed until Friday because it had detected "particles" in the fuel system of the rocket's second stage. The gleaming white Dragon spacecraft and Falcon 9 rocket soared into the blue sky over Florida at 10:36 am (1536 GMT).