The Wall Street Journal on Eric Schmidt's relinquishing his role as CEO:

The new organization is expected to streamline things by "elevating me and having Larry running things day to day," Mr. Schmidt said.

See here at the 1:05 mark:

Hey, I didn't say I had intelligent commentary.

P.S. Schmidt tweeted:

Day-to-day adult supervision no longer needed!

I'm familiar with the term "adult supervision" as it applies to a seasoned manager helping a startup mature, but to me it seems poor style to refer to oneself as the "adult supervision", especially in a public announcement. So what is he, handing the company back to the children now?

I'm going to assume the tweet was hastily worded and what he meant was "I'm no longer needed to serve as the grownup here," which expresses both pride (for getting the company to this point) and humility.

P.P.S. I see he often used the term in jest:

He often joked that he provided “adult supervision,” and was never shy about interrupting the founders at meetings to crystallize a point.

I'm confused, though. The first part of the sentence sounds like he was being self-deprecating. The second sounds like he was at least half-serious.