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| Eric Schmidt steps down as boss of Google owner | Eric Schmidt steps down as boss of Google owner |
| (35 minutes later) | |
| The executive chairman of Google owner Alphabet is to step down in January, the company has announced. | The executive chairman of Google owner Alphabet is to step down in January, the company has announced. |
| Eric Schmidt, who has been with the tech giant since 2001, will remain on the board as a technical adviser on science and technology issues. | |
| Mr Schmidt said in recent years he had spent a lot of his time on science and technology issues and philanthropy and he would expand that work. | Mr Schmidt said in recent years he had spent a lot of his time on science and technology issues and philanthropy and he would expand that work. |
| Alphabet said it expected to appoint a non-executive chairman. | Alphabet said it expected to appoint a non-executive chairman. |
| In a statement Mr Schmidt said "the time is right in Alphabet's evolution for this transition". | |
| Google was founded in 1998 by Larry Page and Sergey Brin. | |
| Mr Schmidt joined the company as chief executive in 2001, becoming chairman in 2011. | |
| In 2015 Google restructured and the new parent company was called Alphabet with Mr Schmidt becoming chairman. | |
| Alphabet has more than 70,000 employees worldwide, and owns Google Search, Maps, Ads, Gmail, Android, Chrome, and YouTube. | |
| Mr Schmidt said the Alphabet structure was "working well", and Google and other parts of the group were "thriving". |