First look: Eric Braverman leaves as CEO of Schmidt Futures

Eric Braverman is leaving as CEO of Schmidt Futures, the philanthropic initiative co-founded by Eric and Wendy Schmidt, to pursue his own charitable venture.

Why it matters: Schmidt Futures — with the mission of mobilizing talent and building platforms for science and society — is one of the top thought leaders on machine learning and other cutting-edge topics.

• The Schmidts plan to support the new venture, Telescope, with seed funding, officials tell Axios.

What's happening: Elizabeth Young McNally, Schmidt Futures' EVP of talent ventures, and Stu Feldman, the group's chief scientist, are stepping in as co-CEOs, the staff was told Tuesday.

• Eric Schmidt, Google's former CEO, is in hot demand for his expertise on artificial intelligence.
• Wendy Schmidt is a philanthropist and investor who has spent the past 17 years creating innovative nonprofits.

What they're saying: The Schmidts said in a statement that they appreciate Braverman's "energy in building Schmidt Futures and the visibility he brought to addressing pressing issues with bold initiatives we have funded through the organization."

• "We are looking forward to what Eric will accomplish with his new public charity and intend to provide initial seed support for his early projects while we continue our own work at Schmidt Futures."

Braverman said: "I am grateful to Eric and Wendy Schmidt for their exceptional generosity in supporting our work."

• "In the coming weeks I plan to announce some exciting new plans with Telescope and look forward to sharing what this new team will be doing on behalf of others."

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