Billionaire tech entrepreneur Bill Gates has announced his decision to step down from the board of Microsoft to channel more of his time towards his more philanthropic projects.
Gates wrote in a blog post, “Microsoft will always be an important part of my life’s work and I will continue to be engaged with Satya and the technical leadership to help shape the vision and achieve the company’s ambitious goals.”
He adds, “I feel more optimistic than ever about the progress the company is making and how it can continue to benefit the world.”
Bill Gates stopped contributing actively to the firm’s day to day activities in 2008 to focus more on the Bill and Melinda Gates Foundation. He however was chairman of the board up-to February 2014.
He has been serving as an advisor to current Microsoft CEO, Satya Nadella, and says he will continue in this capacity.
Satya Nadella said in a statement, “Microsoft will continue to benefit from Bill’s ongoing technical passion and advice to drive our products and services forward.”
The statement further reads, “I am grateful for Bill’s friendship and look forward to continuing to work alongside him to realize our mission to empower every person and every organisation on the planet to achieve more.”
Bill Gates co-founded Microsoft in 1975 and quickly grew it into the world’s largest software maker. Microsoft’s Windows operating system(OS) is still the most widely used OS globally.
Related article: Bill Gates Gives Away $4.6bn of Microsoft Shares And It’s Just 5% of His Fortune
In addition to this, Bloomberg reports that Gates will also exit the board of billionaire Warren Buffet’s Berkshire Hathaway Inc.
His spot on the Berkshire Board will be replaced by Kenneth Chenault, former CEO of American Express Co. Chenault recently stepped down from the board of Facebook Inc.
Bill Gates had been part of Berkshire’s board since late 2004.
Buffet and Gates have both signed “The Giving Pledge”, in which they have promised to give away majority of their fortune to charity upon their demise.
Microsoft Chairman John Thompson said in the company statement, “He leaves an enduring legacy of curiosity and insight that serves as an inspiration for us all.”
