Bill Gates is stepping down from Microsoft's board

Microsoft co-founder Bill Gates is departing the company's board of directors, marking the end of an era.

Though the announcement may have been abrupt, it wasn't really a surprise. In truth, Gates has been gradually stepping away from the company for the better part of the past 20 years.

In a press release, Microsoft said Gates, 64, was planning to focus more on his philanthropic work at the Bill and Melinda Gates Foundation. Meanwhile Microsoft, which has operated over the past two decades under the reign of two dramatically different chief executives apart from Gates, is enjoying a renaissance under CEO Satya Nadella.