Eric Schmidt is stepping down as the executive chairman of Alphabet

Courtney Goldsmith
Follow Courtney
Google CEO Testifies At Senate Hearing On Antitrust Policy
Source: Getty

The executive chairman of the board of directors at Alphabet, Google's parent company, will step down next month, the company said.

Eric Schmidt will stay with the company as a technical adviser to the board.

In a tweet, Schmidt said: "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."

Alphabet said it anticipates the board will appoint a non-executive chairman.

Larry Page, Alphabet's chief executive, said: "Since 2001, Eric has provided us with business and engineering expertise and a clear vision about the future of technology. 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."

Read more: Google owner Alphabet joins the tech party as shares soar on bumper results