In 2001, it was a much different world. Our digital age was in its infancy, simply seed ideas in Silicon Valley. Today, technology titans like Google continue to guide our journey into a new era of connectivity, collaboration and innovation.

In 2001, Google brought Eric Schmidt on board as CEO. To 10 years later become executive chairman, and continue to serve in this capacity through restructuring, and the birth of Alphabet. Google announced Schmidt is planning on stepping down as executive chairman, and will continue with the company in a technical advisory role. 

“Since 2001, Eric has provided us with business and engineering expertise and a clear vision about the future of technology,” noted Larry Page, CEO of Alphabet. “Continuing his 17 years of service to the company, he’ll now be helping us as a technical advisor on science and technology issues. I’m incredibly excited about the progress our companies are making, and about the strong leaders who are driving that innovation.”

After ten years as CEO and seven as Executive Chairman, I can’t wait to dive into the latest in science, technology, and philanthropy. I look forward to working with Larry and Sergey on our future here at Alphabet. https://t.co/nVnZqMEHoI

— Eric Schmidt (@ericschmidt) December 21, 2017

What does the future hold for Schmidt? In recent years, Schmidt has taken to philanthropy. Between the Schmidt Family Foundation, Rise of the Rest, the Alliance for Southern California Innovation, his role on the board for the Broad Institute and lest we forget his new technical advisor position at Alphabet, Schmidt’s schedule seems jam packed.

"Larry, Sergey, Sundar and I all believe that the time is right in Alphabet's evolution for this transition," Schmidt said in a statement. "The Alphabet structure is working well, and Google and the Other Bets are thriving. In recent years, I've been spending a lot of my time on science and technology issues, and philanthropy, and I plan to expand that work."

In his advisory role, the expectation is that Schmidt will help spearhead Sidewalk Labs (Alphabet’s deep learning initiative) and see him hands on with Verily and Calico working in healthcare.

As of Alphabet’s next board meeting, the transition will officially begin with the naming of a non-executive chairman – joining major companies Apple and Microsoft with non-executive chairman.