Microsoft founder Bill Gates announced Thursday that he will be stepping down from his role of chief software architect at Microsoft, and will be phasing out his chairman duties over the next two years.

Microsoft's chief technical officer Ray Ozzie will immediately assume the title of chief software architect, Gates said. In addition, chief technical officer Craig Mundie will immediately take the new title of chief research and strategy officer and will assume Gates' responsibilities for the company's research and incubation efforts.

"Our business and technical leadership has never been stronger, and Microsoft is well-positioned for success in the years ahead," Gates said in a release. "I feel very fortunate to have such great technical leaders like Ray and Craig at the company," Gates said. "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 is leaving his day-to-day responsibilities to focus on his charity, the Bill & Melinda Gates Foundation, which works to improve public health, reduce poverty, and increase access to education and technology around the world.

Source: Gamespot