Rather than directly replace Schmidt, the company said it expects the board to appoint a nonexecutive chairman.
No reason was provided for the change.
"Larry, Sergey, Sundar and I all believe that the time is right in Alphabet's evolution for this transition".
Schmidt said in a statement that he felt the Alphabet structure was working well, with Google and its other bets thriving.
Sharma hits record-equalling T20 ton in India win
Opners KL Rahul and Rohit Sharma have provided solid start for team India with 50 run partnership for the first wicket. Noticeably, his 108 of the 118 that Sharma scored came only in boundaries and sixes (12 fours and 10 sixes).
On Schmidt being shifted to technical advisor role, Alphabet chief said, "Eric has provided us with business and engineering expertise and a clear vision about the future of technology".
As chief executive, Schmidt steered Google through its 2004 initial public offering. He also took Twitter to express his feeling and wrote, "After ten years as CEO and seven as Executive Chairman, I can't wait to dive into the latest in science, technology, and philanthropy".
Schmidt was hired as the company's first outside CEO in 2001, having previously served as CEO of Novell, a now-defunct Utah-based software company. The company now has more than 70,000 employees worldwide, with services that include Gmail, Android and YouTube. Schmidt joked he provided the "adult supervision" to the Google team.
Alphabet's "Other Bets" businesses include self-driving auto company Waymo, and other technology companies such as Nest, Fiber and Verily.
Forbes, which ranked Schmidt at No. 119 on its list of the world's billionaires, calculates that the outgoing chairman has net worth of $11.1 billion.
Prince George , sticking to his shirt-shorts combination, is seen donning royal blue shorts and a light blue, chequered shirt. News of Kate's pregnancy came as a surprise to many and immediately sparked speculation over the baby's name and gender.
A total of 563 cases were reported last week , more than double the 227 cases in the previous week, county officials said. Officials warn that young children, elderly people and those who have chronic disease are especially vulnerable.
The winter solstice (solstice is Latin for " sun standing still") happens at the same time for everyone on Earth. Afterwards, it will continue until it reaches the summer solstice and the longest day of the year.
Los Angeles Fire Department had to issue an alert explaining the "mysterious light in the sky" was the rocket launch. The Falcon 9 rocket carrying the satellites launched at about 5:30 p.m. from Vandenberg.
Parents of one student in OH think they have the flawless gift for the teachers who spend hours with their child every day. News stations across the country have picked up on the tweet , from 10 News Tampa Bay Sarasota to Good Morning America.
The Dallas-based telecommunications giant also reiterated its plan to invest an additional $1 billion in the US next year. AT&T said it would pay the bonus to union-represented, non-management and front-line managers based in the U.S.
Churches planning Christmas Eve services
Family Christmas Eve Mass will be held at 5:30 p.m., and a midnight Mass with loft music begins at 11:30 p.m. Matthew True Born Faith of Christ Church, 601 Norris St., will have a worship service at 11 a.m.
Christmas Eve: What's open and closed on PEI
Cracker Barrel: Serves their regular menu and closes at 2 p.m. on Christmas Eve and is closed on Christmas Day . Costco Wholesale: Opens at 10 a.m.to 8 p.m. on December 23, and from 9 a.m.to 5 p.m. on Christmas Eve .
Watch Cher In First Trailer For MAMMA MIA! HERE WE GO AGAIN
Joining the original cast is Lily James ( Cinderella , Baby Driver ), Universal Pictures will open in theaters on July 20, 2018. The character is nearly exclusively mentioned in the past tense, and there is little, if any, new footage of Streep .