Microsoft co-founder Bill Gates quits the company's board of directors

It is the right time to take the step, he believes

Microsoft co-founder is stepping down from the company's board in order to devote more time to his philanthropic activities.

In an online post on LinkedIn published on Friday, Gates said that he is also quitting the board of Warren Buffett-owned investment firm Berkshire Hathaway.

"I have made the decision to step down from both of the public boards on which I serve - Microsoft and Berkshire Hathaway - to dedicate more time to philanthropic priorities including global health and development, education, and my increasing engagement in tackling climate change," Gates said.

"The leadership at the Berkshire companies and Microsoft has never been stronger, so the time is right to take this step," he added.

I have made the decision to step down from both of the public boards on which I serve... to dedicate more time to philanthropic priorities

Gates will continue to serve as technology advisor to Microsoft CEO Satya Nadella and other leaders in the company, Microsoft said.

Nadella said that Gate's vision and leadership helped the company in many ways over the years, after he'd stepped down as CEO, and added that it was an honour for him to work with the Microsoft co-founder.

"Bill founded our company with a belief in the democratising force of software and a passion to solve society's most pressing challenges. And Microsoft and the world are better for it," Nadella said.

"I am grateful for Bill's friendship and look forward to continuing to work alongside him to realise our mission to empower every person and every organisation on the planet to achieve more."

Bill Gates co-founded Microsoft with his friend Paul Allen in 1975. The first product of the company was Altair BASIC, although it was Windows operating system that helped Microsoft to transform into a global technology supplier. Windows was launched in 1985, and it made both Gates and Allen billionaires.

Gates worked as Microsoft CEO until 2000 when Steve Ballmer was appointed as the new CEO.

In the same year, Gates launched the Bill & Melinda Gates Foundation using $5 billion of his personal fortune. In 2014, he stepped down from his position as Board Chairman, but decided to remain a member and a key advisor to current CEO Satya Nadella.

In an interview with Eventbrite co-founder Julia Hartz last year, Gates said that letting Google take over the mobile market with the Android operating system was the "greatest mistake" of his professional life.

According to Gates, there was room for just one non-Apple OS in the smartphone industry, which was eventually filled by Google's Android OS.

Gates is currently among the top shareholders of Microsoft, although according to FactSet, he owns nust 1.36 per cent of Microsoft shares.

In his post, Gates said that leaving the Microsoft board does not mean that he is stepping away from the company. He described Microsoft as an important part of his life and his work and said that he'll continue to be engaged with the company and its leadership to help them achieve all ambitious goals.