John Hennessy replacing Schmidt as Alphabet's new board chairman

Key Points
  • Alphabet announced John Hennessy will be the new chairman of its board.
  • Hennessy replaces Eric Schmidt who announced he was stepping down in Dec.
  • Hennessy is a former president of Stanford University.
John Hennessy, Stanford University President.
Rex Features | AP Images

Alphabet announced on Thursday that it has appointed a new chairman, John L. Hennessy. Hennessy has been on the board since 2004 and Lead Independent Director since 2007.

Alphabet's former chairman Eric Schmidt announced in late December that he was stepping down from his role as chairman. Schmidt will remain as a "technical advisor" to Alphabet.

CNBC originally reported that Hennessy was the likely replacement and that the transition has been in place for about a year. Hennessy is a former president of Stanford University and has had an extensive career in the tech industry.

Alphabet said that Shirley M. Tilghman will also retire from the board effective Feb. 15, 2018.

CNBC's Jillian D'Onfro and Josh Lipton contributed to this report.