New Delhi (NVI): Microsoft co-founder Bill Gates has stepped down from the company’s board of directors, the company has announced.
Gates, 64, is to dedicate more of his time to his charity, the Bill & Melinda Gates Foundation, and philanthropic priorities including global health and development, education, and his increasing engagement in tackling climate change.
With a net worth of USD 103.6 billion, Bill Gates co-founded Microsoft in 1975 with Paul Allen, who died in 2018. Gates was the CEO until 2000 when Steve Ballmer took over the role. Microsoft’s current CEO, Satya Nadella, took over in 2014.
Gates was the director of the board at Microsoft until 2014 but began dedicating more of his time to the Bill & Melinda Gates Foundation in 2008.
Microsoft did not announce a replacement on the board to Gates but said that it will now consist of 12 members.
Bill Gates remains one of Microsoft’s main shareholders owning 1.36 per cent in shares.
It is one of the most highly valued company’s in the world, valued at $1.21 trillion.
“It’s been a tremendous honor and privilege to have worked with and learned from Bill over the years,” Microsoft chief executive officer Satya Nadella said to the media.
