Schmidt [pictured above], a former engineer who held top executive jobs at Sun Microsystems Inc. and Novell Inc., took the reins of the search giant in 2001 from founders Larry Page and Sergey Brin, who were technically brilliant but were faulted for their management inexperience.
Schmidt said in a statement that he felt the Alphabet structure was working well, with Google and its other bets thriving. About two years ago, Google unveiled a surprise corporate overhaul, forming a new parent company dubbed Alphabet to include internet search and a handful of independent companies.
Durban Christmas church services
Mary Missionary Baptist Church 1251 Fleming School Road, will have a New Year's Eve watch night service at 10:30 p.m. Fulp Moravian Church , 1556 US 311, Walnut Cove, will have an American Red Cross blood drive from 1 to 5:30 p.m.
A company spokesperson declined to answer further questions about Schmidt leaving the chairman role.
Alphabet's "Other Bets" businesses include self-driving auto company Waymo, and other technology companies such as Nest, Fiber and Verily.
Google's one-time "adult supervisor" is getting closer to retirement.
Other companies in the lawsuit which reached earlier settlements included eBay, Lucasfilm, Pixar and Intuit.
SpaceX rocket launch causes concern across Southern California
The reused SpaceX rocket has carried 10 satellites into space from California, leaving behind it a trail of mystery and wonder. The LA Fire Department later issued an advisory stating that the "mysterious light in the sky" was the Falcon 9 rocket launch.
Eric Schmidt has been part of Google since 2001 and presided over the company's transition to Alphabet, with Google itself being spun out as a subsidiary.
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.
The key outlet for that philanthropy has been The Schmidt Family Foundation, founded by Schmidt and his wife Wendy in 2006.
Alphabet shares were down less than a percent in after-hours trading at $1,070.85.
Flowers completes go-ahead TD as USF topples Red Raiders in bowl win
South Florida: Flowers had a terrific second half after going 4-of-14 passing for 52 yards in the first. Keke Coutee had 11 catches for 187 yards and a touchdown while Justin Stockton ran for 103 yards.
Schmidt is also known to speak out on technology issues, expressing concerns about matters such as online spying and barriers to the free-flow of data.