Eric Schmidt Joins Relativity Space as C.E.O.

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For a decade, Eric Schmidt ran Google as chief executive and as the “adult” in the room, mentoring the internet company’s young founders, Larry Page and Sergey Brin. In 2011, Mr. Schmidt handed control of Google back to Mr. Page. He has not taken another C.E.O. job since.

But on Monday, Mr. Schmidt told employees of Relativity Space, a rocket start-up in Long Beach, Calif., that he had made a significant investment and taken a controlling stake in the company, and would take over as chief executive, two people with knowledge of the meeting said.

Mr. Schmidt, 69, succeeds Relativity Space’s current chief and co-founder, Timothy Ellis, the two people said. It is unclear how much money Mr. Schmidt has invested in the start-up.

Relativity Space is one of a crop of start-ups angling to manufacture rockets that can carry smaller payloads of around two tons or less, up to low to

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