Schmidt took the seat initially in 2001 when he became the CEO of Google. Though he left his position as Google’s CEO back in 2001, he became the company’s executive chairman.
In a press release today, Alphabet announced that Schmidt is not looking for re-election to the board when his term ends on June 19th. Schmidt will continue as the technical advisor to Alphabet, a position he started last year.
“Eric has made an extraordinary contribution to Google and Alphabet as CEO, Chairman, and Board member. We are extremely grateful for his guidance and leadership over many years,” said John Hennessy, chairman of the board of directors of Alphabet.
— Eric Schmidt (@ericschmidt) April 30, 2019
In a recent tweet Schmidt stated that he’s stepping down to help the next generation of talent serve the company.
While Schmidt’s business mind has helped Google and Alphabet grow, a shareholder has also filed a lawsuit that claimed Alphabet’s boards of directors, including Schmidt, Larry Page and Sergey Brin covered up sexual harassment claims against Andy Rubin, the creator of Android.
Diane Greene who served as a member of the board since January 2012 will also end her service on June 19th. Greene was the CEO of Google Cloud from December 2015 to January 2019.
While Schmidt and Greene are leaving their board seats, Alphabet has appointed Robin L. Washington to its board of directors.
Washington’s appointment became effective on April 25th.