Microsoft on Friday, announced that Bill Gates is leaving the board effective 13th March 2020. Gates is also stepping down from his position on the board of Berkshire Hathaway.
In a statement he made on LinkedIn, Gates stated that he decided to stepdown from both boards on which he has been serving to dedicate more time to philanthropic priorities including global health and development, education, and engagement in tackling climate change. He claims that the leadership that he has left at both organizations is strong enough for him to take a step away and focus on other responsibilities.
However, Gates will be available to both companies for advisory services on any projects that may require his expertize.
Bill Gates co-founded Microsoft in 1975 with Paul Allen, who died in 2018.Gates was CEO until 2000 when Steve Ballmer took over the role. The current CEO, Satya Nadella, took over in 2014.
Gates was made director if the board at Microsoft until 2014 but began dedicating more of his time to the Bill and Melinda Gates Foundation in 2008.
Gates is among the top shareholders at Microsoft with 1.36% shares according to FactSet. The company went public in 1986 and is now one of the most highly valued companies in the world with a market cap of $1.21 trillion
This article originally appeared on CNBC
