Gates plans to relinquish his day-to-day involvement at Microsoft in order to devote more time to his charitable health and education work at the Bill & Melinda Gates Foundation. However, Microsoft said that he will remain as its chairman after the transition period and serve as an adviser on major development projects.

"I don't see a time in the future where I won't be the chairman of the company," Gates said. "I want to have that association my entire life."