Bill Gates. Image Credit: Business Standard

Microsoft co-founder Bill Gates has stepped down from the company’s board of directors, the company announced on Friday.

Gates has decided to step down from the board of directors to dedicate more time to his philanthropic priorities.

“Microsoft Corp. today announced that co-founder and technology advisor Bill Gates stepped down from the company’s board of directors to dedicate more time to his philanthropic priorities including global health, development, education, and his increasing engagement in tackling climate change. He will continue to serve as Technology Advisor to CEO Satya Nadella and other leaders in the company,” the company said in the statement.

Microsoft was co-founded by Gates with Paul Allen in 1975 and he was the CEO of the company until 2000.

In 2008, Gates transitioned out of a day-to-day role in the company to spend more time on his work at the Bill and Melinda Gates Foundation.

With Gates’ departure, the board will consist of 12 members including John W. Thompson, Microsoft independent chair, Reid Hoffman, partner at Greylock Partners, Hugh Johnston, vice chairman and chief financial officer of PepsiCo, Teri L List-Stoll, executive vice president and chief financial officer of Gap, Inc. Satya Nadella, CEO of Microsoft.

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