(Reuters) — Alphabet Inc stated on Thursday its Executive Chairman Eric Schmidt will step down from his place to turn into a technical adviser as of its subsequent common board assembly in January.

He will proceed to serve on the Alphabet’s board of administrators, the corporate stated.

“The time is correct in Alphabet’s evolution for this transition,” Schmidt stated in an announcement. “The Alphabet construction is working effectively, and Google and the Other Bets are thriving.”

Schmidt will proceed to serve Alphabet as an adviser centered on technical and science points, the corporate stated Thursday.

“I‘m extremely excited concerning the progress our firms are making and concerning the sturdy leaders who’re driving that innovation,” stated Chief Executive Larry Page in an announcement.

Schmidt, who was recruited to the corporate by Google cofounders Larry Page and Sergey Brin, served as chief govt of the corporate from 2001 by way of 2011. Schmidt was instrumental to rising the corporate from a Mountain View, California, web search startup right into a publicly traded, world enterprise with a number of merchandise and enterprise models, former Google workers stated.

“He helped them mature into the powerhouse enterprise it’s in the present day with out throwing away the individuality that was Google throughout these early days,” stated Joe Beda, chief know-how officer of Seattle startup Heptio and a Google worker from 2004 by way of 2014.

While Page and Brin would deal with the corporate’s know-how and the product methods, Schmidt would deal with the right way to scale each product to a world degree, stated Bismarck Lepe, CEO of San Francisco startup Wizeline and a Google worker from 2003 till 2007.

“Understanding the right way to preserve and make your prospects pleased was essential, and Eric understood that in spades,” Lepe stated. “He was extremely sensible and extremely technical which made him an ideal match within the group.”

This article sources data from VentureBeat