Co-founder of Microsoft Bill Gates, has just stepped down from the company’s Board of Directors, as well as leaves the board of Berkshire Hathaway.

Gates was CEO until 2000 and handed over the role to Steve Ballmer. Gates continued as director of the board at Microsoft until 2014 but began dedicating more of his time to the Bill & Melinda Gates Foundation in 2008. He co-founded Microsoft in 1975 with Paul Allen, who died in 2018. The company is now under the leadership of Satya Nadella, who took over as CEO in 2014.

“I have made the decision to step down from both of the public boards on which I serve – Microsoft and Berkshire Hathaway – to dedicate more time to philanthropic priorities including global health and development, education, and my increasing engagement in tackling climate change,” said Gates, co-founder of Microsoft Corp.

“The leadership at the Berkshire companies and Microsoft has never been stronger, so the time is right to take this step. With respect to Microsoft, stepping down from the board in no way means stepping away from the company.

Microsoft will always be an important part of my life’s work and I will continue to be engaged with Satya and the technical leadership to help shape the vision and achieve the company’s ambitious goals. I feel more optimistic than ever about the progress the company is making and how it can continue to benefit the world.”

Owning 1.36% of shares, Gates is among Microsoft’s top shareholders. The company went public in 1986 and is now one of the top valued companies in the world with a market capitalization of $1.21 trillion.

“It’s been a tremendous honor and privilege to have worked with and learned from Bill over the years,” said Satya Nadella, Microsoft CEO.

“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. The board has benefited from Bill’s leadership and vision. And Microsoft will continue to benefit from Bill’s ongoing technical passion and advice to drive our products and services forward. I am grateful for Bill’s friendship and look forward to continuing to work alongside him to realize our mission to empower every person and every organization on the planet to achieve more.”