After 18 years as an Alphabet Inc. board member, Eric Schmidt will step down to allow “the next generation of talent to serve.”

Schmidt (pictured) first took the seat when he was made chief executive of Google Inc. in 2001, a role he took on to reportedly add more business savvy to what co-founders Larry Page and Sergey Brin had already created. In 2011, Schmidt switched from that position to executive chairman, and then last year vacated that role but kept his position on the board.

In a press release today, Alphabet said Schmidt’s term would end in June, although he will still serve as a technical adviser to the company. According to an SEC filing, he will receive just $1 a year for this advisory role.

“Eric has made an extraordinary contribution to Google and Alphabet as CEO, Chairman, and Board member,” Alphabet Chairman John Hennessy, said in a statement. “We are extremely grateful for his guidance and leadership over many years.”

Diane Greene, who has served on the board since 2012 and recently left after three years at the helm of Google’s cloud operation, will also be stepping down from the board. As two go out, one comes in, and the new board member will be Robin L. Washington. “Ms. Washington is a recognized business leader with extensive experience across finance and operations, and will serve on Alphabet’s Leadership Development and Compensation Committee,” said the statement.

In a tweet, Schmidt said now it is time to coach the new people coming through, while he added that he will also focus on his philanthropic endeavors through Schmidt Futures. His goal, he said, is to help “build more free, prosperous societies.”

Much has been said about the timing of his departure. Google has faced controversy over its made-for-China search engine, sexual harassment cases and alleged coverups, part of which led to a global walkout last year that is still having repercussions today. Schmidt was actually mentioned in a lawsuit, which accused him and other board members of covering up abuses relating to sexual harassment.

Photo: JD Lasica/Flickr