Bill Gates will step down from his daily roles at Microsoft by July 2008.  Gates, who founded the company, has been running it for three decades now.  Gates plans to spend more time working on health and education at the Bill & Melinda Gates Foundation.
Taking place immediately, Ray Ozzie, Chief Technical Officer, will assume the title of chief software architect.  Also happening immediately, Craig Mundie, Chief Technical Officer, will become chief research and strategy officer.
Gates said "Our business and technical leadership has never been stronger, and Microsoft is well-positioned for success in the years ahead. I feel very fortunate to have such great technical leaders like Ray and Craig at the company.  I remain fully committed and full time at Microsoft
through June 2008 and will be working side by side with Ray and Craig to ensure that a smooth transition occurs."
Gates, who will remain chairman of the corporation, also said he believes "the road ahead for Microsoft is as bright as ever."
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Bill Gates to step down from daily roles by July 2008