Eric Schmidt, who had led Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOGL) and former entity Google Inc. since 2001 in executive roles, cut all ties with the company in February this year, according to a CNet report on Saturday.Schmidt was the chief executive officer of Google Inc. between 2001 and 2011, and later took the role of executive chairman. When Alphabet Inc. was created as a parent company of Google and other holdings in 2015, he took over as the new company's executive chairman, and later as a technology advisor in 2017.According to CNet, Schmidt stepped down as a technology advisor to Alphabet in February, marking an end to his 19-year old journey with the company.The executive's double-role as an advisor to the Pentagon and Alphabet at the same time came under criticism.Alphabet was competing with Amazom.com Inc. (NASDAQ: AMZN), Microsoft Corporation (NASDAQ: MSFT), Oracle Corporation (NYSE: ORCL), and International Business Machines Corp. (NYSE: IBM) for the $10 billion Joint Enterprise Defense Infrastructure or JEDI contract during Schmidt's role as an advisor to the Pentagon.Schmidt's complete departure from Alphabet comes at a time when he's becoming more involved in government roles. New York Governor Andrew Cuomo earlier on Wednesday announced that the former Google CEO would head a "commission that will reimagine how the state can "build back better."Price Action Alphabet Class A shares closed 1.1% higher at $1,384.34 on Friday. Class C shares closed 1.15% higher at $1,388.37.See more from Benzinga * Google Employees To Work From Home Through 2020 With Few Exceptions * Apple Adds Coronavirus Testing Sites To Maps In US * YouTube Extends Fact Checking To The US To Combat Fake Coronavirus Information(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The investors in CytomX Therapeutics, Inc.'s (NASDAQ:CTMX) will be rubbing their hands together with glee today, after…