Schmidt, who played an integral role in Google’s rise to power, will remain on Alphabet’s board and serve as a technical adviserEric Schmidt will step down as the executive chairman of Alphabet’s board of director’s, the company announced on Thursday. Schmidt will remain on Alphabet’s board and serve as a technical adviser to the company, whose holdings include Google, YouTube, Nest and Waymo. The 62-year-old has played an integral role in Google’s rise from a graduate student research project to a multinational tech conglomerate. Schmidt served as chief executive of Google until 2011, when he stepped down but maintained his position as chairman of the board of directors. A 2015 corporate restructuring saw Schmidt become the chairman of Alphabet, a new holding company for Google and several other subsidiaries.

Source: The Guardian December 21, 2017 22:52 UTC