Microsoft co-founder Bill Gates said he would be stepping down from the public boards of Microsoft and Berkshire Hathaway in order to spend more time on his philanthropic endeavors. In a Friday statement, Gates said he felt like now was the time to “take this step” as the “leadership at the Berkshire companies and Microsoft has never been stronger.” “Serving on the Berkshire board has been one of the greatest honors of my career,” Gates said. “With respect to Microsoft, stepping down from the board in no way means stepping away from the company.” He added that he would remain in close contact with Microsoft CEO Satya Nadella and the company’s “technical leadership” to help the company achieve its “ambitious goals.” “I feel more optimistic than ever about the progress the company is making and how it can continue to benefit the world,” Gates wrote.