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Eric Schmidt announces to step down as the Executive Chairman of Alphabet

Dec 22, 2017, 10:15 am

Alphabet is having a change in its executive lineup via the transition of Eric Schmidt to take the role of technical advisor. In this new role, he will provide his advisements to Sidewalk Labs (urban development arm of the company), healthcare spin-offs Verily and Calico, and the deep learning efforts of Alphabet.

The Alphabet company is to have a non-executive chairman to be appointed at the next board meeting in January. This will lead it to be among the major players Microsoft and Apple, which are also without an executive chairman.

Schmidt said in his statement that Page, Brin, and Pichai agree with him that “the time is right in Alphabet’s evolution for this transition.” He confidently updated about the company structure that’s going good, adding the recent thrives on Google and Other Bets.

The new tech advisor has been engaged in philanthropy increasingly over the several past years via his own family foundation. They recently launched a science fellowship with a valuation of $25 million. Other two notable arms of the foundation are Rise of the Rest that’s investing in mid-American startups, and Alliance for Southern California Innovation.

Schmidt is a board member of Broad Institute as well, which has its focus on medicine and disease prevention. He said that he wants to expand on philanthropy along with science and technology based on his experiences in the recent years.

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