Gates steps down as Microsoft chair

[projekktor id=’11291′]

Microsoft co-founder Bill Gates is stepping down as the company’s chair, to take on a new role as technology adviser.

Satya Nadella, 46, will replace Steve Ballmer, who announced last August that he would leave Microsoft within the next year. Nadella has worked at Microsoft for 22 years, and will become the third leader in the company’s 38 year history.

Board member John Thompson will serve as Microsoft’s new chair. The company says Gates will support Nadella in shaping technology and product direction.

Video (above:) Marvin Ryder of the DeGroote School of Business explains what the move will mean for Microsoft