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Google's Eric Schmidt stepping down as executive chairman of Alphabet

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By Daniel Arkin with NBC News
Image: Eric Schmidt listens as White House senior adviser Jared Kushner sp
Alphabet Inc Executive Chairman Eric Schmidt, center, listens as White House senior adviser Jared Kushner speaks at the opening session of the White House meeting with technology Chief Executive Officers to mark "technology week," on June 19, 2017, in the -
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Susan Walsh
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Eric Schmidt, the executive chairman of Google's parent company Alphabet, will step down from his role and become a technical adviser, the tech giant announced on Thursday.

Image: Eric Schmidt listens as White House senior adviser Jared Kushner speaks at the opening session of the White House meeting with technology Chief Executive Officers
Alphabet Inc Executive Chairman Eric Schmidt, center, listens as White House senior adviser Jared Kushner speaks at the opening session of the White House meeting with technology Chief Executive Officers to mark "technology week," on June 19, 2017, in the Indian Treat Room of the Eisenhower Executive Office Building on the White House complex in Washington. Susan Walsh

Schmidt, 62, an industry veteran who previously served as Google CEO, will remain on the company's board.

"Since 2001, Eric has provided us with business and engineering expertise and a clear vision about the future of technology," Alphabet CEO Larry Page said in a statement.

"Continuing his 17 years of service to the company, he'll now be helping us as a technical advisor on science and technology issues. I'm incredibly excited about the progress our companies are making, and about the strong leaders who are driving that innovation."