Bill Gates is stepping down from Berkshire Hathaway and Microsoft to spend more time on philanthropy. He announced this on Friday and he also said that he would stay as technology advisor to the CEO of Microsoft Satya Nadella.
Bill Gates was the co-founder and CEO of Microsoft and a collaborator with Warren Buffet at Berkshire Hathaway and it is a landmark moment for him. He says he is stepping down in order to dedicate his time to his philanthropic duties which includes global health and development, education and tackling climate change.
He said, “serving on the Berkshire board has been one of the greatest honors of my career." and stressed that "stepping down from the board in no way means stepping away from the company."
As Gates announced his departure, Bekshire announce that the board position would be filled by former American Express CEO Kenneth Chenault, who is leaving the board of Facebook.