Microsoft announced that its co-founder, Bill Gates, has decided to step down from the board to dedicate more time to philanthropic priorities.
Tech giant Microsoft announced that its co-founder, Bill Gates, decided to step down from the company’s board of directors. Gates, who is also leaving the board of Warren Buffett’s Berkshire Hathaway, decided to make this move in order to focus on his philanthropic efforts.
According to his own announcement on LinkedIn, Gates plans to focus on major issues such as global health, education, development, and increase his efforts in tackling climate change. He stated that the leadership of the two firms he is leaving behind has never been stronger, which made him feel that this is the right time to leave.
However, Gates did point out that, when it comes to Microsoft, stepping down from the board does not mean that he is completely abandoning the company. He noted that the firm will always be an important part of his life’s work, and he will stay engaged with its leaders to help shape the vision and achieve Microsoft’s ambitious goals.
The company has done a lot to help the world, and Gates feels optimistic about the progress that it is making. He originally co-founded the company with Paul Allen in 1975. Gates then acted as the firm’s CEO until 2000, when he stepped down from the role and was replaced by Steve Ballmer. Ballmer himself stepped down in 2014 and was replaced by the current CEO, Satya Nadella, while Gates became the director of board this same year. He also focused on the Bill & Melinda Gates Foundation from 2008 onward. Paul Allen, the other co-founder of the firm, passed away in 2018.
Presently, Microsoft is one of the most highly valued firms in the world, and its market cap currently sits at $1.21 trillion.