Eric Schmidt just stepped down as executive chairman of Alphabet after 17 years of service to the company. These 17 years of service were to Google, which was what Alphabet is now. Schmidt will continue to roll with the company in a different role: Technical Advisor. "Larry, Sergey, Sundar and I all believe that the time is right in Alphabet’s evolution for this transition," said Schmidt. "The Alphabet structure is working well, and Google and the Other Bets are thriving."