Richard Brian/Reuters
Eric Schmidt
- On Tuesday, Alphabet announced that former Google CEO Eric Schmidt and former Google Cloud CEO Dianne Greene will not seek re-election to its board of directors.
- News of the departures come on the same day as Alphabet's stock plunged more than 8%, wiping out more than $70 billion in market value.
On Tuesday, Alphabet announced that former Google CEO Eric Schmidt and former Google Cloud CEO Dianne Greene will not seek re-election to its board of directors.
Schmidt's exit comes after 18 years on the board. According to the press release on Tuesday, the former Google CEO will continue on as a "technical advisor to Alphabet."
Greene's departure was perhaps more predictable, as the former cloud chief exec was replaced by Oracle veteran Thomas Kurian in January of this year. Greene served on Alphabet's board since 2012.
News of the departures come on the same day as Alphabet's stock plunged more than 8%, wiping out more than $70 billion in market value.
This story is developing.
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After 18 years of board mtgs, I'm following coach Bill Campbell's legacy & helping the next generation of talent to serve. Thanks to Larry, Sergey & all my BOD colleagues! Onward for me as Technical Advisor to coach Alphabet and Google businesses/tech, plus…..
- Eric Schmidt (@ericschmidt) April 30, 2019