Gates prepares to hand over the reigns at Microsoft

Microsoft has announced what is arguably its most significant managerial restructuring as chairman, chief software architect and company co-founder Bill Gates enters a two-year transition to step down from his full time role.

With immediate effect, Ray Ozzie will assume the role of chief software architect and fellow chief technical officer Craig Mundle will become chief research and strategy officer, both reporting directly to Gates over the coming two years.

Gates, who has served as chief software architect since Steve Ballmer's appointment to CEO in 2000, will continue in his role as Microsoft chairman after the two year period, in addition to working on key development projects and acting as an advisor to the Redmond giant.

In stepping down from a full time role with the company, Gates intends to focus more attention on the work of global health and education charity, the Bill and Melinda Gates Foundation.

"Our business and technical leadership has never been stronger, and Microsoft is well-positioned for success in the years ahead," Gates commented. "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."

Following Gates' the transition period, Ozzie and Mundle will report directly to current CEO Steve Ballmer, who added: "Bill and I are confident weâve got a great team that can step up to fill his shoes and drive Microsoft innovation forward without missing a beat. We will continue to hire the worldâs best technical talent and give them the tools to do their best work, and we will continue to tackle the biggest challenges and opportunities for our customers by investing for the long term."