Bill Gates Leaves Microsoft And Berkshire Hathway Boards

On Friday, in a press release, Microsoft Corporation announced that its co-founder Bill Gates has left its board of directors to "dedicate more time to his philanthropic priorities."

More than a decade ago, Gates had stopped being involved in day-to-day operations at the firm to be involved to the philanthropic foundation he had launched with his wife, Melinda.

He was serving as the chairman of Microsoft's board of directors until early in 2014 and has now stepped away entirely.

"It's been a tremendous honor and privilege to have worked with and learned from Bill over the years," said the tech giant's CEO and company veteran Satya Nadella in a release.

"Bill founded our company with a belief in the democratizing force of software and a passion to solve society's most pressing challenges; and Microsoft and the world are better for it."

Gates will continue serving as technology adviser to Nadella and other Microsoft leaders, the company said.

Further, Berkshire Hathaway in a SEC filing said that former American Express CEO Kenneth Chenault would replace Gates, who has served on Berkshire's board since 2004. Chenault will be simultaneously leave Facebook's board, that he served on since 2018.