Alphabet has announced that, as of its next regular board meeting in January 2018, Eric Schmidt will be transitioning from his position as Executive Chairman of the Board of Directors, becoming a technical advisor to the company while continuing to serve on its board. Alphabet CEO Larry Page said:
“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”.
Schmidt’s successor has not yet been chosen, but the company anticipates that the board will appoint a non-executive chairman.
Analyst Comment
I saw Schmidt give a press conference a few years ago at IFA. He explained a new technology at the time – Google Maps. He explained that he was only in Berlin for a short time, but is interested in Greek antiquities. His demo showed how Google Maps could direct him to a Berlin Museum. At the end of the questions, after the talk, a German journalist pointed out that the use of Google Maps was a shame, as if he had gone to one of the other museums, he would have seen three or four more times as many antiquities. Schmidt kept a fixed smile, while he avoided the point, but I think a researcher somewhere got fired! (BR)
