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By Daniel Arkin

Eric Schmidt, the executive chairman of Google's parent company Alphabet, will step down from his role and become a technical adviser, the tech giant announced on Thursday.

Image: Eric Schmidt  listens as White House senior adviser Jared Kushner speaks at the opening session of the White House meeting with technology Chief Executive Officers
Eric Schmidt at the White House on June 19.Susan Walsh / AP file

Schmidt, 62, an industry veteran who previously served as Google CEO, will remain on the company's board.

“Since 2001, Eric has provided us with business and engineering expertise and a clear vision about the future of technology,” Alphabet CEO Larry Page said in a statement.

“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.”