Alphabet Executive Chairman Eric Schmidt this week said he plans to step down from his leadership role on the company’s board and will instead serve as a technical advisor to the company. “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. “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 is the umbrella organization that serves as parent to Google and other divisions. Google founders Larry Page, now CEO of Alphabet, and Sergei Brin will remain in their respective roles, as will Sundar Pichai, CEO of Google. The change will go into effect in January 2018. Google didn’t say who might replace Schmidt. He served as Google’s CEO from 2001 to 2011.
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