Eric Schmidt, the former CEO of Google and current Executive Chairman of the Board of Directors of Alphabet, the parent company of Google, announced he will be stepping down from that role and transitioning into a role named “technical advisor to the company while continuing to serve on its board.”

He has been with the company since 2001, acting as the adult figure to the co-founders, Larry Page and Sergey Brin. For 17 years he has help lead the company into its dominate position in this world.

Matt Cutts, former Googler who joined Google a year before Eric Schmidt wrote:

“Since 2001, Eric has provided us with business and engineering expertise and a clear vision about the future of technology,” said Larry Page, CEO of Alphabet. “Continuing his 17 years of service to the company, he’ll now be helping us as a technical advisor on science and technology issues. I’m incredibly excited about the progress our companies are making, and about the strong leaders who are driving that innovation.”

“Larry, Sergey, Sundar and I all believe that the time is right in Alphabet’s evolution for this transition. The Alphabet structure is working well, and Google and the Other Bets are thriving,” said Eric Schmidt. “In recent years, I’ve been spending a lot of my time on science and technology issues, and philanthropy, and I plan to expand that work.”

Google said they will appoint a new “non-executive chairman” in the future.

Forum discussion at Twitter.