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Microsoft co-founder Bill Gates steps down from the board

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Microsoft announced on Friday that its 64-year-old co-founder, Bill Gates, was leaving its board.
Microsoft co-founder Bill Gates steps down from the board
Photo from: GeekWire

To dedicate more time to his philanthropic priorities

Gates said that the reason behind this is to dedicate more time to his philanthropic priorities." Microsoft said that he plans to do more work to tackle climate change.

In a written statement Microsoft CEO Satya Nadella said that "It's been a tremendous honor and privilege to have worked with and learned from Bill over the years."

Nadella added that "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."

This means that Gates won't be fully leaving the company. He will still serve as the technology adviser to Nadella and other leaders.

Apart from Microsoft, Gates is also leaving the Berkshire Hathaway board. He has served as a board member since 2004. In an SEC filing, Berkshire Hathaway said former American Express CEO Kenneth Chenault would replace Gates.

As of writing, Bill Gates is the world's, second-richest man with an estimated net worth of over USD 100 billion.

Sources: CNBC, CNN
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