Eric Schmidt, now the former executive chairman at Alphabet's board of directors has stepped down from his leading position to transition into a new role of advising issues regarding "science and technology."
Larry Page, the CEO of Alphabet has come forward and spoken on the job transition "Since 2001, Eric has provided us with business and engineering expertise and a clear vision about the future of technology, continuing his 17 years of service to the company, he'll now be helping us as a technical advisor on science and technology issues. I'm incredibly excited about the progress our companies are making, and about the strong leaders who are driving that innovation."
Schmidt has said that he has been spending quite some time on science and technology issues and believes this area is the next area he would like to expand his work in "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."
On Alphabets press release, John Hennessy, a member of Alphabet's Board since 2004 and the lead independent director since 2007 commented on Schmidt work ethic, saying "Over 17 years, Eric has been tremendously effective and tireless in guiding our Board, particularly as we restructured from Google to Alphabet. He'll now be able to bring that same focus and energy to his other passions, while continuing to advise Alphabet"
Schmidt also took to Twitter to announce his new transition change in position.
After ten years as CEO and seven as Executive Chairman, I can't wait to dive into the latest in science, technology, and philanthropy. I look forward to working with Larry and Sergey on our future here at Alphabet. https://t.co/nVnZqMEHoI— Eric Schmidt (@ericschmidt) December 21, 2017