Eric Schmidt to step down as executive chairman of Google's parent company

24 December, 2017, 03:04 | Author: Shannon Newton
  • Win McNamee  Getty Images
Eric Schmidt

The company says he will become a technical adviser and will continue to sit on the board. Page replaced Schmidt as chief executive a decade later, but Schmidt remained at the head of the board of directors.

No reason was provided for the change.

Added Schmidt, "Larry, Sergey, [Google CEO Sundar Pichai] 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", Schmidt said in a statement Thursday.

It's going to be a long summer's day today, seriously
The exact times of sunrise and sunset depend on two things: your latitude and geographic location within your time zone. Northerners spend most of the longest solar day of the year facing away from the Sun in the cold of a winter's night.

Alphabet executive chairman Eric Schmidt speaks at the 2017 SALT conference in Las Vegas.

He was Google's CEO for ten years until 2011, and the chairman of the board from 2001 to 2004, and later from 2007 to 2001.

Schmidt, who 17-years-ago stepped in as the adult in the room to guide the then-young company, said he will spend his time working on science and technology issues and philanthropy. In 2015, Google restructured to become Alphabet and Schmidt assumed the same role at the newly named parent company.

Schmidt has been with Google in some capacity or another since 2001, when he was brought into the company by Sergey Brin and Larry Page.

Judges Erase One-Vote Lead In Virginia, Throwing State Politics Into Disarray
The official, Kenneth Mallory, wrote that the ballot had both candidates' names bubbled in for the 94th District race. There will be a recount Wednesday in the 68th District, which includes parts of Richmond, Henrico, and Chesterfield.

Alphabet's "Other Bets" businesses include self-driving vehicle company Waymo, and other technology companies such as Nest, Fiber and Verily.

Alphabet owns Google Search, Maps, Ads, Gmail, Android, Chrome and Youtube and has more than 70,000 employees. The business will join Apple and Microsoft who are both huge companies with a non-executive chairman.

Forbes, which ranked Schmidt at No. 119 on its list of the world's billionaires, calculates that the outgoing chairman has net worth of $11.1 billion. In recent years, Schmidt has taken to philanthropy.

Alphabet shares were down less than a percent in after-hours trading at $1,070.85.

Cavs working to get Isaiah Thomas run at G League practices
He re-aggravated his hip injury during the Celtics' playoff run last season, and has yet to return to the court. According to Shams Charania of Yahoo Sports , he is targeting a comeback in the first week of January.

Recommended:

  • Top EU Court Rules Uber Is A Taxi Service

    Top EU Court Rules Uber Is A Taxi Service

    Many taxi drivers saw Wednesday's court decision as an important symbolic victory, The Washington Post reported . In short, this means Uber will now be officially recognised as a cab company rather than a technology company.
    Facebook and Universal just cut a huge music licensing deal

    Facebook and Universal just cut a huge music licensing deal

    With those tools in place and this new deal, Facebook is another step closer in its quest to be a destination for high-end video. Initially the partnership will mean that users will be able to upload videos that contain licensed music to the three platforms.
    Fifth flu season death in San Diego region reported

    Fifth flu season death in San Diego region reported

    Masks must be donned when there are two or more laboratory-confirmed, unrelated influenza cases in the county. There is no charge for employees and volunteers to get the shots, say MCMC officials.
  • Justin Trudeau Is Canada's First Prime Minister To Violate Federal Ethics Laws

    Justin Trudeau Is Canada's First Prime Minister To Violate Federal Ethics Laws

    Trudeau told reporters he accepted the findings of the report and that he took "full responsibility" for the mistake. The breach is the first ever by a sitting Canadian prime minister, but carries with it no sanctions.
    USA  secretary of commerce sides with Boeing on Bombardier dispute

    USA secretary of commerce sides with Boeing on Bombardier dispute

    International Trade Commission, which is expected to decide in February whether Boeing was harmed by the C Series. Canada's government will review the final determinations to consider next steps and options for appeal, she said.
    Apple admits to slowing older iPhones over battery issues

    Apple admits to slowing older iPhones over battery issues

    Like most people, you might be considering the option of replacing the phone entirely without attempting to have it checked out. And because it's so gradual, progressively shorter battery life is ignored by most people, until it's time for a new iPhone.
  • Man Planned Christmas Day Attack in San Francisco

    Man Planned Christmas Day Attack in San Francisco

    Pier 39, packed with restaurants, bars and souvenir shops, is one of San Francisco's most popular tourist spots . Officials have stopped a man who they say was plotting a terror attack in San Francisco over the holidays.
    Eagles have six players named to the Pro Bowl

    Eagles have six players named to the Pro Bowl

    Sure, Smith went on a cold streak during the middle of the season, but Rivers wasn't so hot at the beginning of the year. Smith was named as an alternate which softens the blow a little, but it's still baffling that he didn't get in.
    IL  loses population, drops to 6th-largest state

    IL loses population, drops to 6th-largest state

    Wyoming had the largest percentage decline among states, losing almost 5,600 resident or about 1% of the state's population. Other states in the West - Nevada, Utah and Washington - saw similar percentage increases in their population.
  • UN Security Council Applies New Sanctions on North Korea

    UN Security Council Applies New Sanctions on North Korea

    North Korea has repeatedly defied Security Council resolutions to halt its nuclear weapons and missile testing. It requires countries using North Korean laborers to send them back home within 12 months.
    Papa John's Pizza Founder Steps Down, Blamed NFL Protests For Sagging Sales

    Papa John's Pizza Founder Steps Down, Blamed NFL Protests For Sagging Sales

    The company later became a huge success with Schnatter also turning into a pop culture staple for his commercials. Papa John's added Ritchie to the succession plan for the company's top job in 2015 when he was named president.
    Klopp says Liverpool must keep defensive recovery going at Arsenal

    Klopp says Liverpool must keep defensive recovery going at Arsenal

    But he is ready to return on Friday as Arsenal look to avenge the embarrassing 4-0 loss at Anfield in August, increasing Wenger's tactical possibilities.


Popular

Jurgen Klopp: Leon Britton could be the right man for Swansea
With the score 0-0 at the time, Henderson was replaced by James Milner who captained the Reds for the remainder of the game. "There are so many positive things I can say about this team, just not after a game like Arsenal ".

Manchester United to make it four away league wins in a row?
Mourinho also escaped with just a warning after he accused City of making "tactical fouls" in his pre-match press conference. Injury analyst Ben Dinnery did note Valencia's year could be over if a hamstring strain is confirmed, however.

Trump uses first pardon to free millionaire meat baron Sholom Rubashkin
Large crowds gathered in the Chabad enclave of Borough Park in Brooklyn on December 20 to welcome Rubashkin home. Federal authorities raided the plant in 2008 , and Rubashkin was found guilty of bank fraud.

Vince McMahon sells $100M of WWE shares, potentially to restart XFL
McMahon - who's now 72-years old - wants to right some old wrongs and he could be thinking about reviving the XFL . The XFL , which was a joint venture between WWE and NBC , was supposed to be a direct competitor to the NFL.

'Mamma Mia!' indeed. Is Meryl Streep killed off in the upcoming sequel?
That's the set up for the flashbacks, and it has fans wondering why Rosie refers to Donna Sheridan in the past tense. And it's clear just how much we missed her from the tweets that came pouring in after her trailer cameo.

Watch the incredible Bristol City celebrations after they knock Utd out
On the same night, Manchester City defeated Leicester City by penalties to qualify to the semi-finals. Yet City, who are third in the Championship and hunting promotion to the top-flight, kept believing.

Franken says he'll leave Congress in 'few weeks'
A special election will be held in Minnesota to permanently fill the seat timed to next year's midterm elections in November. I will live by whatever decision and I will walk away thinking about this opportunity I've had while I was here.

AT&T celebrates tax reform: How does a $1000 bonus for everyone sound?
The House of Representatives on Wednesday sent tax reform legislation to President Donald Trump , who is expected to sign it soon. AT&T announced Wednesday that it will give 200,000 of its USA employees $1,000 once the GOP tax bill is signed into law.

Trump Blasts 'FAKE NEWS' Story He Was Considering Rescinding Gorsuch Nomination
But The Post is sticking to its guns, claiming the account "is based on interviews with 11 people familiar with the episode". Scalia, remember the justice [Scalia], and mention me.

Salvation Army in final stretch of Red Kettle Campaign
The toys were provided through the Toys for Tots drive and food through the West Ohio Food Bank. Toys, clothing and money were donated by Toyota workers to help the Salvation Army.