Google mastermind Eric Schmidt to step down from role in JANUARY

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We haven't heard anything new from Alphabet lately except when we learned Google CEO Sundar Pichai was appointed to Alphabet Inc's Board of Directors. Between the Schmidt Family Foundation, Rise of the Rest, the Alliance for Southern California Innovation, his role on the board for the Broad Institute and lest we forget his new technical advisor position at Alphabet, Schmidt's schedule seems jam packed.

Schmidt has many years working alongside founders Larry Page and Sergey Brin to make Google the tech giant that it is now. Alphabet feels he has done a great job at helping them transition into the parent company that Google needed, and this move will enable Schmidt to focus his time and energy on his other passions while still being beneficial to Alphabet. Schmidt noted that he will continue o expand his work in technology issues, philanthropy, and science.

Larry Page, CEO of Alphabet, praised Schmidt for his long-standing efforts since he joined Google in 2001 for providing the company "with business and engineering expertise and a clear vision about the future of technology".

It is certainly an end of an era.

Schmidt served as Google's CEO from 2001 to 2011. He helped take Google public in 2004 and built it into a colossus.

Google is still the main contributor of Alphabet's revenue and income. Schmidt joked he provided the "adult supervision" to the Google team.

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While Google and the Other Bets may sound like a hastily named band, "Other Bets" here refers to the money-losing moonshots that Google wisely put at a distance through the formation of Alphabet.

Some gaffes by Schmidt over the years have also received attention.

"If you have something that you don't want anyone to know, maybe you shouldn't be doing it in the first place".

After officially stepping down from the top role in January, he will also become a technical advisor, fixing the Wi-Fi and whatnot.

The company is also in the midst of a nightmare with the European Commission.

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