Bill Gates to Step Down From Daily Duties at Microsoft

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Microsoft Corp. on Thursday announced that co-founder Bill Gates will step down from his daily duties in July 2008, so that he can focus on non-profit work. He will also continue to serve as the companyis chairman and as an advisor on key projects, according to the Wall Street Journal (subscription required).

At a press conference, Mr. Gates characterized the decision as "a hard one for me to make," but, he added, "I know Microsoft is well-positioned for success ahead." Chief Technical Officer Ray Ozzie will immediately step into Mr. Gatesi current role as chief software architect, while CTO Craig Mundie will become chief research and strategy officer.

Mr. Gates co-founded Microsoft in 1975 and embarked on charitable work with his wife, Melinda, in 2000, the same year he stepped down as CEO in favor of Steve Ballmer. The Bill & Melinda Gates Foundation currently has US$29.1 billion in assets.

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