Billionaire Executive Eric Schmidt Steps Down From Google

It's been reported that Eric Schmidt, Executive Chairman of the Board of Directors for Alphabet, the parent company to Google, is stepping down from his role.

There is no official word on why he has made this decision, but there are reports that suggest it has to do the allegations of sexual misconduct.

Schmidt, who is 62 years old, has been married to the same woman since 1980, but has been rumored many times to have been involved a slew of extramarital affairs. He has also been called a "womanizer."

According to The Daily Mail, a source close to the situation said that, while an expose on Schmidt was supposedly in the works, "They haven’t found s--t. There is no sexual harassment. There has never been any issue. They have had nothing. People have looked into it and people have not found anything," the source added.

Schmidt is not leaving entirely, however, as he will remain on technical adviser role.

The news of Schmidt stepping down from Alphabet comes right on the heels of ESPN President John Skipper announcing his own decision to step down from his position of leadership.

"Today I have resigned from my duties as President of ESPN. I have had a wonderful career at The Walt Disney Company and am grateful for the many opportunities and friendships. I owe a debt to many, but most profoundly Michael Lynton, George Bodenheimer and Bob Iger," Skipper began his statement, as reported by ESPN.

He then revealed that he has "struggled for many years with a substance addiction," and added, "I have decided that the most important thing I can do right now is to take care of my problem."

Skipper also explained that he "disclosed" his "decision to the company" and that they "mutually agreed that it was appropriate that" he resign.

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He also wrote, "I come to this public disclosure with embarrassment, trepidation and a feeling of having let others I care about down. As I deal with this issue and what it means to me and my family, I ask for appropriate privacy and a little understanding."

"To my colleagues at ESPN, it has been a privilege. I take great pride in your accomplishments and have complete confidence in your collective ability to continue ESPN’s success," Skipper concluded.