Eric Schmidt cut his ties with Alphabet Inc [NASDAQ: GOOGL] and no longer served as the Google executive member as he quit his job as a ‘Technical Adviser’ to GOOGL in February according to the report. He announced his departure three years after he declared that he is no longer working as an Executive Chairman & chose to leave the title.
65-years old American businessman declared his will for ‘technical advisor’ title in Dec 2017. Schmidt was considered as the ‘adult supervisor’ for the giant who converted the Silicon Valley start-up to a global tech giant.
GOOGL reported result of 2020 Q1 on April 28, 2020. Alphabet declared its revenue increased but its EPS missed anticipations. Tech-giant has reported the quarterly EPS of $9.87 and the total revenue of $41.16 billion.
Shares of Alphabet Inc soared 1.10% or 15.06 up at $1,384.34 during the last trading session. Tech giant has total market cap of 946.33 billion. It had trading volume of roughly 1,666,487 as compared to its average volume of 2,754,487.
Schmidt has played a very important role in the success of Google and it is not unveiled yet what was the reason behind his quit. There are the possibilities that he left the Google because his role as a ‘technical advisor’ interfered with his other role.
Right now, he is working as the head of US defense division on Artificial Intelligence. Schmidt also serving as the chair of commission which is engaged in the upgrading the strategies and technological structure of New York amid and after the COVID-19.
He was rated as the 119th wealthiest person in the world as per the report of Forbes. After exiting the firm, he still has a relationship with the firm as he has $5.3 billion ownership of shares in the firm.