Microsoft co-founder Bill Gates has stepped down from the company’s board of directors to devote more time to his philanthropic projects. Gates will continue to serve as technology adviser to CEO Satya Nadella and others.
Gates was Microsoft’s chief executive until 2000 and has since scaled back his involvement in the company he founded with Paul Allen in 1975.
On June 27, 2008, Gates transitioned out of a day-to-day role in the company to spend more time on his work at the Bill & Melinda Gates Foundation. He served as Microsoft’s chairman of the board until February 4, 2014.
“It’s been a tremendous honor and privilege to have worked with and learned from Bill over the years. 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,” said Microsoft CEO Satya Nadella.
Microsoft did not announce a replacement on the board to Gates but said that it will now consist of 12 members. 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.
“On behalf of our shareholders and the Board, I want to express my deep appreciation to Bill for all his contributions to Microsoft. As a member of the Board, he challenged us to think big and then think even bigger. He leaves an enduring legacy of curiosity and insight that serves as an inspiration for us all,” said John W. Thompson, Microsoft independent board chair.
Gates is also giving up his seat on the board of Berkshire Hathaway, the conglomerate headed by fellow billionaire Warren Buffett.
