Former Alphabet Inc GOOGGOOGL chairman and CEO Eric Schmidt will end an 18-year tenure on the board, the company announced Tuesday.
After 18 years of board mtgs, I'm following coach Bill Campbell's legacy & helping the next generation of talent to serve. Thanks to Larry, Sergey & all my BOD colleagues! Onward for me as Technical Advisor to coach Alphabet and Google businesses/tech, plus…..
— Eric Schmidt (@ericschmidt) April 30, 2019
...DIB, NSCAI, @SchmidtFutures, teaching & more, to help coach and develop extraordinarily talented leaders, and to build more free, prosperous societieshttps://t.co/QNBracpVnj
— Eric Schmidt (@ericschmidt) April 30, 2019
Schmidt will not seek reelection when his term ends June 19. He had already discussed his planned transition to a technical adviser in late 2017 when he relinquished his chairmanship.
After ten years as CEO and seven as Executive Chairman, I can’t wait to dive into the latest in science, technology, and philanthropy. I look forward to working with Larry and Sergey on our future here at Alphabet. https://t.co/nVnZqMEHoI
— Eric Schmidt (@ericschmidt) December 21, 2017
Why It’s Important
Schmidt joined the board in 2001 after being named CEO. He transitioned full-time to executive chairman of the board in 2011, and in 2018, he descended to a standard board member.
Since then, Schmidt became something of a liability to the company when The New York Times revealed his role in covering up cases of sexual misconduct.
What’s Next
Google also announced the intended departure of seven-year board member Diane Greene, who served as CEO of Google Cloud between December 2015 and January 2019. Greene will not seek reelection this June.
The board appointed Gilead Sciences, Inc. GILD CFO Robin Washington to the board effective April 25. Washington will retire from Gilead on March 1, 2020.
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Photo credit: Chatham House, Flickr
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