Eric Schmidt has been one of the biggest names involved in Google for quite some time, and when they shook up their corporate structure he handled key roles to keeping things moving smoothly. Today, Schmidt and Alphabet have announced that he’ll be stepping back from his role as executive chairman and will be taking over a new position at the company.
From here on out, Schmidt will be a technical advisor to Alphabet relating to technology and science issues. It doesn’t appear to be any kind of hostile move or demotion, but is instead just a way to put Schmidt into a role that’s more valuable to Alphabet. At least, that’s what the general consensus seems to be, but you never know how these things really are behind closed doors.
Regardless, Schmidt will still be involved with Alphabet, so that’s not changing. They’ll be picking a new executive chairman soon, and we’ll just have to keep an ear to the ground to see if this actually changes anything.