After 18 years with Google, its former CEO companys, Eric Schmidt, is leaving the board of parent company Alphabet.
Ο Schmidt πήρε την θέση του προέδρου στο ΔΣ της Google το 2001, πριν γίνει η advertising στο διαδίκτυο ο κύριος τρόπος εσόδων της νέας εταιρείας. Η Google σε αυτό το στάδιο δεν είχε ανακοινώσει ούτε ένα κερδοφόρο τρίμηνο.
Schmidt will not seek his re-election on the board of Alphabet after the end of his term in 19 June, announced yesterday Alphabet, as there are worries about company shares as online advertising revenue is slowing down, according to CNBC.
The anti-dumping fine of the European Commission (1,7 billion dollars) also hurt the company's profits this quarter.
Mr. Eric Schmidt will continue as a technical advisor at Alphabet. Recall that he served as CEO of Google from 2001 to 2011, when he gave way to Google co-founder Larry Page, but remained as executive chairman and was often the public face of Google.
Schmidt stepped down as executive chairman in January 2018.
As stated by Financial Times, Eric Schmidt has sold 70 percent of the shares he owned in Google when it went public in 2014, and his remaining 30 percent is worth around $5 billion.
Diane Greene, a former VMware CEO who joined the Google team in 2015 to lead her Cloud business, will not seek re-election to the Alphabet board when her term expires on June 19. Greene has been on Alphabet's board of directors since 2012 and has been replaced by its head Google Cloud earlier this year by former Oracle exec Thomas Kurian.
So until now there is no one who seems to be seeking the position, but the Board does not seem to have decided to address.
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