On 20 January 2011, Google announced that Schmidt would step down as the CEO of Google but continue as the executive chairman of the company and act as an adviser to co-founders Page and Brin.
While working at Google, Schmidt was involved in activities[REF] that later became the subject of the High-Tech Employee Antitrust Litigation case that resulted in a settlement of $415 million paid by Adobe, Apple, Google and Intel to employees.