This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-42450513
The article has changed 5 times. There is an RSS feed of changes available.
| Version 3 | Version 4 |
|---|---|
| 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. | 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 has played a key role in the development of Google from a small California start-up to the global business it is today. | Mr Schmidt has played a key role in the development of Google from a small California start-up to the global business it is today. |
| 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". | In a statement Mr Schmidt said "the time is right in Alphabet's evolution for this transition". |
| He added that in recent years he had spent a lot of his time on science and technology issues and philanthropy and he would expand that work. | He added that in recent years he had spent a lot of his time on science and technology issues and philanthropy and he would expand that work. |
| Google was founded as an internet search company in 1998 by Larry Page and Sergey Brin. | |
| Mr Schmidt joined the company as chief executive in 2001, becoming chairman in 2011. | 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. | 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. | Alphabet has more than 70,000 employees worldwide, and owns Google Search, Maps, Ads, Gmail, Android, Chrome, and YouTube. |
| Joe Beda, chief technology officer of technology firm Heptio and a former Google employee, said: "He helped them mature into the powerhouse business it is today without throwing away the uniqueness that was Google during those early days." | Joe Beda, chief technology officer of technology firm Heptio and a former Google employee, said: "He helped them mature into the powerhouse business it is today without throwing away the uniqueness that was Google during those early days." |
| Alphabet board member John Hennessy said Mr Schmidt had been "tremendously effective and tireless in guiding our board, particularly as we restructured from Google to Alphabet". | Alphabet board member John Hennessy said Mr Schmidt had been "tremendously effective and tireless in guiding our board, particularly as we restructured from Google to Alphabet". |
| 'Other Bets' | |
| Google still makes up the most of Alphabet's revenue and income. | |
| However, the group also includes the so-called Other Bets unit, which includes the Waymo driverless car business and the Project Loon WiFi-enabled weather balloon venture. | |
| Mr Schmidt said the Alphabet structure was "working well", and "Google and the Other Bets are thriving". |