- Bill Gates steps down from Microsoft and Berkshire Hathaway boards with the aim of focussing on his philanthropic priorities in upcoming years.
- At the same time, Chenault is leaving the board of directors for Facebook, the company announced Friday. The 68-year-old has served on the board of Facebook since 2018, following his resignation as AMEX’s president and chairman and CEO.
Bill Gates steps down from Microsoft boards and from Berkshire Hathaway boards.
Microsoft revealed in a press release Friday that its 64-year-old co-founder left its board to “devote more time to his philanthropic goals.” “It was a great pleasure and privilege to have collaborated with and learned from Bill over the years,” Microsoft CEO Satya Nadella said in a written statement. “Microsoft will continue to rely on Bill’s continuing strategic enthusiasm and guidance to move forward our products and services. I am grateful for Bill’s friendship and look forward to continuing to work alongside him to fulfill our goal of inspiring every individual and organization on the planet to accomplish more. “Gates will continue to serve as a technology advisor to Nadella and other Microsoft leaders, the company said.
Gates will continue to represent Nadella and other Microsoft executives as technology advisors, the company said.
Berkshire Hathaway said in a separate SEC filing that former American Express CEO Kenneth Chenault will succeed Gates, who has served on Berkshire’s board since 2004.
At the same time, Chenault is leaving the board of directors for Facebook, the company announced Friday. The 68-year-old has served on the board of Facebook since 2018, following his resignation as AMEX’s president and chairman and CEO.
In a written statement posted on Friday’s Facebook page, Chenault said serving on the board of Berkshire Hathaway and working closely with his colleague, Berkshire CEO Warren Buffett, is “a once-in-a-lifetime opportunity.” “I also believe good corporate governance means restricting any director’s number of board responsibilities,” Chenault said.
Gates is the second richest person in the world after Amazon’s Jeff Bezos, with an estimated net worth more than $100 billion, according to the Bloomberg Billionaire List. He has worked through the Bill and Melinda Gates Foundation on public health, sustainable growth and education initiatives since the transition from regular duties at Microsoft in 2008.
Under the leadership of Gates, Microsoft evolved from a manufacturer of the basic software code used to operate business and home machines in the early years of personal computers into the leading software provider of computing from workplace productivity to internet and gaming.
The position of Gates as Microsoft’s Board Chair ended in 2014. According to the company, he plans to do further research in fighting climate change.