The Microsoft co-founder, 64, is to dedicate more of his time to his charity, the Bill & Melinda Gates Foundation.
He has been spending more time on his philanthropic work since 2008, when he transitioned out of his day-to-day role at Microsoft. Now the world’s second-richest person worth $103.6 billion, Gates founded Microsoft in 1975 with Paul Allen, who died in 2018.
Gates remained as Microsoft CEO until 2000 when he was succeeded by Steve Ballmer. He stepped down as director of the board in 2014.
Microsoft did not announce a replacement on the board to Gates but said that it will now consist of 12 members.
‘It’s been a tremendous honor and privilege to have worked with and learned from Bill over the years,’ said current Microsoft CEO Satya Nadella, who took over the role in 2014.
‘Bill founded our company with a belief in the democratizing force of software and a passion to solve society’s most pressing challenges. And Microsoft and the world are better for it. ‘ The board has benefited from Bill’s leadership and vision.
And Microsoft will continue to benefit from Bill’s ongoing technical passion and advice to drive our products and services forward.
‘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 organization on the planet to achieve more.
‘Gates remains one of Microsoft’s main shareholders owning 1.36 percent in shares.It is one of the most highly valued company’s in the world, valued at $1.21 trillion.
Gates is said to be stepping down to dedicate more time to his philanthropic work and his foundation but will remain as Technology Advisor to CEO Nadella.
Source : Dailly Mail