Eric Schmidt Announces to Step Down as the Executive Chairman of Alphabet

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Aniruddha Paul
Aniruddha Paul
Writer, passionate in content development on latest technology updates. Loves to follow relevantly on social media, business, games, cultural references and all that symbolizes tech progressions. Philosophy, creation, life and freedom are his fondness.

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 (the 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 increasingly engaged in philanthropy over the past several years via his family foundation. They recently launched a science fellowship with a valuation of $25 million. Other notable arms of the foundation are Rise of the Rest 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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