By Shawn Lim

Alphabet has announced that Eric Schmidt will step down as executive chairman and will take on the role of technical adviser on the company’s board at the end of 2017.

Schmidt served as Google‘s chief executive in 2001 and became its executive chairman a decade later, retaining his position when the tech giant restructured to form Alphabet Inc.

Alphabet’s board will now most likely appoint a new, non-executive chairman at its next meeting in January.

“Larry, Sergey, Sundar and I all believe that the time is right in Alphabet’s evolution for this transition,” said Schmidt.

“The Alphabet structure is working well, and Read full story ›

Source: The Drum