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    Home » Eric Schmidt To Resign As Exec Chair Of Google Parent Alphabet

    Eric Schmidt To Resign As Exec Chair Of Google Parent Alphabet

    By SHOOTTuesday, December 26, 2017Updated:Tuesday, May 14, 2024No Comments2840 Views
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    In this March 8, 2016, file photo, Eric Schmidt, executive chairman of Alphabet speaks during a press conference ahead of the Google DeepMind Challenge Match in Seoul, South Korea. (AP Photo/Lee Jin-man, File)

    By Ryan Nakashima, Technology Writer

    MENLO PARK, Calif. (AP) --

    Google's one-time "adult supervisor" is getting closer to retirement. Eric Schmidt, who took over as CEO in 2001 three years after investors demanded more mature leadership for the fast-growing tech giant, is stepping down as executive chairman of Google parent Alphabet in January.

    The 62-year-old billionaire will become a technical adviser and will continue to sit on the board of the company that was formed to contain Google and its sprawling so-called "moonshot" subsidiary businesses in 2015.

    Schmidt, a former engineer who held top executive jobs at Sun Microsystems Inc. and Novell Inc., took the reins of the search giant in 2001 from founders Larry Page and Sergey Brin, who were technically brilliant but were faulted for their management inexperience.

    Page was restored as CEO in 2011, announced in a surprise move as the company reported quarterly earnings. Schmidt at the time said "I believe Larry is ready" to be CEO, adding, "It's time for him to have a shot at running this."

    "The Alphabet structure is working well, and Google and the other bets are thriving," Schmidt said in a statement Thursday. "In recent years, I've been spending a lot of my time on science and technology issues, and philanthropy, and I plan to expand that work."

    The key outlet for that philanthropy has been The Schmidt Family Foundation, founded by Schmidt and his wife Wendy in 2006.

    According to the company's latest proxy filings from April, Schmidt held shares worth about $4.9 billion and maintained 5.6 percent voting control over the company. Page and Brin together control a majority of the votes with shareholdings worth four times as much apiece. A spokeswoman said Schmidt was not selling any shares as part of the transition.

    In October 2015, Google launched a new structure that made Alphabet Inc. the holding company for Google and related businesses. Some of those "other bets" include self-driving cars, smart thermostats and internet-delivering balloons.

    On recent earnings calls, Google CEO Sundar Pichai has addressed investors with CFO Ruth Porat.

     

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    Category:News
    Tags:AlphabetEric SchmidtGoogle



    HBO Max’s “The Seduction” Reimagines “Dangerous Liaisons” With A Female Gaze

    Thursday, November 13, 2025

    "Welcome to the delicious hell that is high society," beckons the trailer for "The Seduction," HBO Max's steamy new French-language drama inspired by "Dangerous Liaisons." And indeed, when most of us last saw the Marquise Isabelle de Merteuil, she was in her own private hell, wiping white powder off her tear-stained face. This 18th-century Parisian socialite, memorably played by Glenn Close in the 1988 Stephen Frears movie, was ruined every which way — schemes exposed, reputation in tatters, shamed and booed at the opera. Well, "The Seduction" has something to say about her story — or at least, her backstory. The latest adaptation of the 1782 epistolary novel by Choderlos de Laclos, somewhere between a prequel and a remake, retains much of the main story but takes a radical detour into the female gaze. In other words, "it's the #MeToo of the 18th century," says director Jessica Palud, of the six-episode miniseries that launches Friday. So how does one make a #MeToo version of a society where men had all the power — and the swords, too? Where the only weapons available to women were their feminine wiles? The show, an origin story for Isabelle (its title in French is simply "Merteuil"), accomplishes this partly by elevating a minor character, the elderly aunt named Rosemonde, into a powerful figure played by Diane Kruger. Kruger's wealthy and independent Rosemonde forms a surprising alliance with young Isabelle (Anamaria Vartolomei) as the two women seek to navigate a repressive Parisian society and "reverse the codes," as Palud puts it, becoming masters of their own destiny. Also playing major roles are Vincent Lacoste as Valmont (Rosemonde's nephew), stepping into the devious shoes of John Malkovich from the Frears film, and Lucas Bravo (yes,... Read More

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