Eric Schmidt, despite reports to the contrary, doesn't really do much at Google these days. He's probably enjoying his new role as Google ambassador, getting to travel the world, speak at conferences, meet with government officials and so on.
He's looking more like a politician or a diplomat these days. In fact, don't be surprised when he does get into politics or something of the sort.
One thing's for sure, he can do pretty much whatever he wants for the rest of his life, money is no issue. Just in the last week or so, he netted some $130 million, €100 million by selling some Google shares. The fact that Google is hitting peak prices doesn't hurt.
Granted, Schmidt is always selling some shares and these sales are usually planned months or more in advance. But he sold a significant amount of shares in just three days, coincidentally or not, just as Google was seeing some of the biggest prices in history.