Former Google chief Eric Schmidt to descend from the alphabet table

The alphabet on Tuesday said that former Google manager and CEO Eric Schmidt will step down from the company's board in June after more than 18 years.

Mr Schmidt will not seek re-election when his current deadline expires on June 19, but continues as a technical advisor.

"After 18 years with the board [meetings]I follow coach Bill Campbell's legacy and help the next generation's talent," he said in a tweet. "Thanks to Larry [Page] Sergey [Brin] and all my BOD colleagues!"

Schmidt was Google's CEO from July 2001 to April 201[ads1]1 and his manager from April 2011 to January 2018.

"Eric has made an extraordinary contribution to Google and Alphabet as CEO, Chairman, and Board Member. We are very grateful. For his guidance and leadership over many years, says John Hennessy, chairman of the board.

The company also said that Diane Greene, co-founder of VMware, who had served on the board since 2012, would not seek re-election. Mrs. Greene was appointed head of Google's The cloud industry and had earned that role in November

The alphabet added that Robin Washington, CFO of Gilead Sciences, was appointed to the board, while Gilead said she planned to resign from her role in biopharmaceutical companies, with effect from 1 March 2020.

The Board's relocation came after Alphabet lost nearly $ 70 billion in market value on Tuesday in the wake of a disappointing income statement.

Alf abet stocks, which were down to almost 8 per cent in regular opening hours, were slightly higher in the aftermarket.

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