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

24 December, 2017, 03:04 | Author: Shannon Newton
  • Eric Schmidt at MWC

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.

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.

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.

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.

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:

  • Manchester United to make it four away league wins in a row?

    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.
    Nashville expected to be awarded MLS franchise at Wednesday announcement

    Nashville expected to be awarded MLS franchise at Wednesday announcement

    MLS included Nashville on a short-list of four bidders for the two expansion teams that are scheduled to begin playing by 2020. Reports out of Cincinnati and from the Mercury News in California point to Cincinnati as the next to win an expansion team.

    Chrome will start blocking 'intrusive' ads starting February 15

    Google provides a best practices guide for ad formats that comply with the Coalition for Better Ads group's guidelines. The tech giant is now going to abide standards set by the Coalition for Better Ads , of which Google is a member.
  • 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.
    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.
    Trump Blasts 'FAKE NEWS' Story He Was Considering Rescinding Gorsuch Nomination

    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.
  • Red Raiders fall to South Florida in Birmingham Bowl, 38-34

    Red Raiders fall to South Florida in Birmingham Bowl, 38-34

    South Florida's most impactful player is quarterback Quinton Flowers , who can make plays in the air and on the ground. Facing fourth and three, the Red Raiders chose to go for it, but Shimonek was sacked by Senat for a loss of 10 yards.
    Jurgen Klopp: Leon Britton could be the right man for Swansea

    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 ".
    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.
  • LG's 5K ultra-wide monitor claims pro-level accuracy with lifelike colors

    LG's 5K ultra-wide monitor claims pro-level accuracy with lifelike colors

    CES 2018 is nearly here and LG is set to wow those who are attending by showing off their new line of Nano IPS monitors . If this turns out to be true, then this will be the first time that LG launches a Nano IPS-based monitor.

    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.
    'Mamma Mia!' indeed. Is Meryl Streep killed off in the upcoming sequel?

    '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.


Popular

Pak fires unprovoked, Army officer, 3 jawans martyred on LoC in Rajouri
Kashmir, a Muslim-majority Himalayan region, is held by India and Pakistan in parts and claimed by both in full. He said the chief minister had conveyed her heartfelt condolences to the families of the slain soldiers.

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.

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.

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.

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.

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.

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.

North Korea Threatens to Arm Its Missiles With Biological Weapons
The report, based off of a source in South Korea, said that it did not have confirmation about whether the tests had been successful.

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.