Eric Schmidt steps down as executive chairman of Google's parent Alphabet

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

Eric Schmidt, executive chair of advertising behemoth and Google parent Alphabet, has announced he is standing down from his 17-year role as the company's 'adult supervision. He served as CEO until 2011, when he transitioned to become executive chairman, making way for Page to reassume the role. He won't be leaving entirely, however, as he will instead take on the role of "technical advisor" while also remaining a member of the board.

In a statement, Schmidt said that "Larry, Sergey, Sundar 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", said Schmidt. Schmidt noted that he will continue o expand his work in technology issues, philanthropy, and science. That would seem to consolidate the power of the company's co-founders, Alphabet CEO Larry Page and Alphabet President Sergey Brin.

It is certainly an end of an era.

Mr Schmidt first joined Google as CEO back in 2001 when the company only had several hundred employees.

Schmidt also had a seat on Apple's board of directors from August 2006 until three years later when Google's ambitions for Android became problematic for Apple.

Meryl Streep's character killed off in Mamma Mia 2?
The trailer features a slow, a capella version of " Mamma Mia ", the eternally ideal song, as well as one swell pair of overalls. The Movie are Academy Award® victor Meryl Streep as Donna, Julie Walters as Rosie and Christine Baranski as Tanya.

During his time at Google, Schmidt oversaw its growth into one of the world's largest companies, with revenue of $27.77 billion during the third quarter of 2017 and a market cap of $743 billion.

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. Considering the growing influence of the "Other bets" business unit in Google, this might not be the last time you hear from the man.

The group also owns the Other Bets unit, which includes the Waymo driverless auto business and the Project Loon WiFi-enabled weather balloon venture. In recent years, Schmidt has taken to philanthropy.

Ultimately, this move could help Google's public image.

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

Recommended:



Popular

Tit for tat: Russian Federation mulls retaliation for USA sanctions
Under the Magnitsky Act, those on this list are barred from entering the country and any assets they hold in USA banks are frozen. Kadyrov and Kataev are responsible for "gross violations of internationally recognized human rights", the department said.

Hickenlooper asks for $9.6M for children's health insurance
The House approved GOP legislation in November extending the health insurance program's federal money for five years. Congress let the program expire in September, and states are starting to run low on, or run out of, CHIP money.

Department of Health Urges Flu Shots as Influenza on the Rise
Health officials say flu cases are widespread in Arizona with more than 2,600 cases reported than this time previous year . Also, experts suggest getting the flu shot. "The actual vaccine effectiveness was overall about 33 percent", said Wu.

There's still time to ship a gift for Christmas - but not much
Gene Mabrey, customer as well said, "I'm shipping some oranges to my relatives back in OH ". If you can't make it to the post office until Friday , it might cost you.

Chloe Kohanski wins 'The Voice' Season 13: 'At a loss for words'
After graduating high school, she went to college to become an English teacher but chose to join a blues band instead. People , they literally worked like dogs (to vote for me), just because they love traditional country music.

Korea For Widespread 'WannaCry' Cyberattack
The North Korean government has repeatedly denied any involvement with WannaCry and has decried allegations as a smear campaign. The country probably employs 1,700 state-sponsored hackers, backed by more than 5,000 support staff, according to ASPI.

EV Competition Heats up Between Chinese Startup and Tesla
The ES8, which starts at 448,000 Chinese yuan ($91,311) is half the starting price of Tesla's 836,000 yuan Model X in China. The ES8 electric SUV starts at roughly $68,000 Dollars , which is about half the price of a Tesla Model X in China.

First Trailer For Disney's 'The Nutcracker and The Four Realms' Released
Disney says the plot centers around Clara as she looks for a key that will unlock a box that contains a gift from her late mother. Let us know your thoughts down below! What do you think about the first trailer for Disney's take on The Nutcracker?

Manchester City 'join race to sign £40m Wilfried Zaha'
The Mirror claims both Manchester City and Chelsea are interested in the winger who is valued at £40million. Landing the Abidjan native also allows Guardiola to keep his current attacking options well-stocked.

Toyota workers donate toys, money to Salvation Army
Students have been participating in this drive for five years, and in that time frame, more than 7,000 toys have been donated. And if you don't even have to come across a kettle to give.