Eric Schmidt

Schmidt resigning as exec chair at Google parent Alphabet

Google's one-time "adult supervisor" is getting closer to retirement. Eric Schmidt, who took over as CEO in 2001 three years after investors demanded more mature leadership for the fast-growing tech giant, is stepping down as executive chairman of Google parent Alphabet in January.

The 62-year-old billionaire will become a technical adviser and will continue to sit on the board of the company that was formed to contain Google and its sprawling so-called "moonshot" subsidiary businesses in 2015.

Schmidt, a former engineer who held top executive jobs at Sun Microsystems Inc. and Novell Inc., took the reins of the search giant in 2001 from founders Larry...

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