Former Google CEO Schmidt leaving Alphabet board

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Schmidt is under fire for signing off on bonus payment to former executives who were sacked despite knowledge of sexual harassment charge against them.

SAN FRANCISCO: Eric Schmidt, the former chief executive officer of Google and one of the largest stakeholders in parent company Alphabet Inc, will step down from Alphabet’s board in June.

Schmidt is one of three men who control Alphabet’s Class B shares, which have 10 times the voting rights of regular shares. He was the third-largest owner of those shares with 8.6%, according to a regulatory filing on Tuesday. Google co-founders Page and Sergey Brin each own more than 40%. Alphabet named Robin L. Washington, chief financial officer of Gilead Sciences Inc, as a director. Washington also serves on the board of Honeywell International Inc and Salesforce.com Inc. She has worked at Gilead, a pharmaceutical firm, since 2014. Alphabet has a variety of efforts in biotechnology and health care, including subsidiaries Verily and Calico.

 

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