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Microsoft co-founder and billionaire Bill Gates announced his stepping down from Microsoft Board as he now wishes to concentrate more on philanthropy.
Gates was Microsoft's CEO until 2000 and since then has gradually scaled back his involvement in the company he started with Paul Allen in 1975.
He transitioned out of a day-to-day role in Microsoft in 2008 and served as Chairman of the Board until 2014.
The billionaire announced that he is leaving the Microsoft Board entirely as well as his seat on the Board of Berkshire Hathaway, the conglomerate headed by fellow billionaire Warren Buffett.
Gates said he plans to dedicate more time to the Bill and Melinda Gates Foundation.
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