Gates stepping down from full-time Microsoft role

REDMOND, Wash.–Bill Gates, the man who started Microsoft and has been its public face throughout its three decades of existence, plans to step away from daily work at the company.

Gates announced on Thursday that he will gradually relinquish his current role, ceding the title of chief software architect immediately, while remaining a full-time employee for the next two years. In July 2008, he will remain as a part-time employee and chairman.

The announcement comes as his company battles pressures on all fronts: a sagging stock price, competition from Google and nagging delays in the Vista operating system.

In a press conference held Thursday after the stock markets had closed for regular trading, Gates announced that over the next two years he will gradually step away from his daily responsibilities at the company he co-founded some 30 years ago.

Microsoft’s Chief Technical Officer Ray Ozzie will immediately assume the title of chief software architect, Gates said. In addition, Craig Mundie, CTO for advanced strategies and policy, will immediately take the new title of chief research and strategy officer and will assume Gates’ responsibilities for the company’s research and incubation efforts.

Gates will work side-by-side with Ozzie throughout the transition period, but that a year from now, Ozzie and Mundie will begin reporting directly to CEO Steve Ballmer.

Full article: CNET News.com