San Francisco Chronicle

Schmidt steps down as Al­pha­bet chair­man

For­mer Google CEO will be­come tech­ni­cal ad­viser to In­ter­net gi­ant

- By Alis­tair Barr and Sarah Frier

Al­pha­bet said Eric Schmidt is step­ping down as ex­ec­u­tive chair­man, end­ing a 17-year run that saw Google grow from a Web search engine into an In­ter­net gi­ant that dom­i­nates on­line ad­ver­tis­ing and video stream­ing.

Schmidt, 62, will be­come a tech­ni­cal ad­viser to par­ent com­pany Al­pha­bet while con­tin­u­ing to serve as a di­rec­tor, the com­pany said Thurs­day. Al­pha­bet ex­pects the board to ap­point a non-ex­ec­u­tive chair.

Schmidt served as Google’s CEO for 10 years un­til 2011, when he handed the reins to co-founder Larry Page. He was ini­tially brought in as

chair­man to add more sea­soned lead­er­ship to the fast-grow­ing Moun­tain View startup, as the “adult su­per­vi­sion” for the younger adults then run­ning Google. Al­pha­bet, now the sec­ond­largest com­pany in the world by mar­ket value, now has Schmidt spend­ing more time rep­re­sent­ing Google ex­ter­nally and work­ing on his phi­lan­thropy. He owns about 1.3 per­cent of the com­pany.

“The Al­pha­bet struc­ture is work­ing well, and Google and the Other Bets are thriv­ing,” Schmidt said. “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.”

 ??  ?? Al­pha­bet ex­pects the board to ap­point a nonex­ec­u­tive chair to re­place Eric Schmidt.
Al­pha­bet ex­pects the board to ap­point a nonex­ec­u­tive chair to re­place Eric Schmidt.

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