Eric schmidt google

Schmidt to step down as executive chairman of Google parent Alphabet

Eric Schmidt, a long-serving Google executive who joined the search giant in 2001, will step down as executive chairman of parent company Alphabet in January, the company said Thursday.

The longtime Google executive will move into a role as “technical advisor,” the company said.

Schmidt will take on a new role as “technical advisor,” though the company didn’t describe what his responsibilities will be. He will remain on the Alphabet’s board of directors, and the company said it anticipates finding a new non-executive chairman for the board.

Schmidt made the decision with Google’s founders Larry Page and Sergey Brin, as well as Google CEO Sundar Pichai.

“Larry, Sergey, Sundar and I all believe that the time is right in Alphabet’s evolution for this transition,” Schmidt said in a statement, adding that the company’s main businesses and experimental projects are all doing well. “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.”

The change in Schmidt’s role marks another stage in Google’s evolution, which Page and Brin started as Stanford grad students in 1998. When Schmidt, the former CEO of software maker Novell, joined the company, Google’s freewheeling culture reflected its origins on a college campus.

During Schmidt’s tenure, however, the company expanded beyond those roots as a search engine to take on other industries, including mobile phones and online video. It also adopted a corporate structure that reflected its growing financial success, including a stock listing.

Schmidt hasn’t been a big factor in Google’s day-to-day operations for years, but he played an important role as the company’s liaison to Washington, DC. He was often the face of Google and Alphabet with policymakers, and had good relationships with officials in the Obama administration. But that dynamic has changed since President Donald Trump took over earlier this year.