After 18 years with Google, the company's former CEO Eric Schmidt is leaving its board motherof the Alphabet company.
Schmidt took the chairman's position on Google's board in 2001, before advertising in the Internet the new company's primary revenue stream. Google at this stage had not announced a single profitable quarter.
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 concerns about the company's shares as well as online revenue advertisements 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 resigned as Executive Chairman in January of 2018.
As the Financial Times said, Eric Schmidt has sold 70 a share of the shares he owned on Google when the 2014 was listed, and his 30% is worth around 5 billion dollars.
Diane Greene, a former VMware CEO who joined the Google team at 2015 to lead her Cloud business, will not seek her re-election at the Alphabet Council when her tenure expires at 19 in June. Greene was on the board of Alphabet from 2012 and was replaced by Google Cloud chief earlier this year by former Oracle 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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