Bill Gates has announced he is stepping down from the boards of Microsoft and Berkshire Hathaway.
According to CNN, Microsoft announced in a press release on Friday that its 64-year-old co-founder was leaving its board to “dedicate more time to his philanthropic priorities.”
“It’s been a tremendous honor and privilege to have worked with and learned from Bill over the years,” Microsoft CEO Satya Nadella said in a written statement. “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.”
The company stated that Gates will continue to serve as technology adviser to Nadella and other Microsoft leaders.
Separately in an SEC filing, Berkshire Hathaway said former American Express CEO Kenneth Chenault would replace Gates, who has served on Berkshire’s board since 2004.
Chenault said in a statement that serving on Berkshire Hathaway’s board and working closely with Berkshire CEO Warren Buffett is “a once-in-a-lifetime opportunity.”
Interestingly, Chenault is simultaneously leaving Facebook’s board of directors. The 68-year-old has served on Facebook’s board since 2018, after his retirement as chairman and CEO chairman of AMEX.
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