Bill Gates Steps Down

Bill Gates is fading out of his full-time role at Microsoft, the software giant that’s been under pressure due to a sagging stock price, competition from Google, and nagging delays in the Vista operating system.

He will officially quit on June 2008 and Microsoft’s chief technical officer Ray Ozzie will immediately assume the title of chief software architect. 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.