Eric Schmidt the company and act as an adviser to co-founders Page and Brin. Google gave him a $100 million equity award in 2011 when he stepped down as CEO. On 4 April 2011, Page replaced Schmidt as the CEO. On December 21, 2017, Schmidt announced he would be stepping down as the executive chairman of Alphabet. While working at Google, Schmidt was involved in activities that later became the subject of the High-Tech Employee Antitrust Litigation case that resulted in a settlement of $415 million paid by Adobe, Apple, Google and Intel to employees. In one incident, after receiving a complaint
Eric Schmidt on the boards of the Institute for Advanced Study in Princeton, the Khan Academy, and "The Economist". New America is a non-profit public-policy institute and think tank, founded in 1999. Schmidt succeeded founding chairman James Fallows in 2008. Founded in 2010 by Schmidt and Dror Berman, Innovation Endeavors is an early-stage venture capital. The fund, based in Palo Alto, California, invested companies such as Mashape, Uber, Quixey, Gogobot, BillGuard, and Formlabs. Schmidt was an informal advisor and major donor to Barack Obama's 2008 presidential campaign, and began campaigning the week of October 19, 2008, on behalf of the candidate. He