After the stock market closed, Microsoft Chairman Bill Gates let it be known that he will transition out of a day-to-day role in the company to spend more time at the Bill & Melinda Gates Foundation.

Chief Technical Officer Ray Ozzie will immediately assume the title of Chief Software Architect and begin working with Bill Gates on all technical architecture and product oversight responsibilities.

Their goal is to create as smooth a transition as possible as Gates goes to a part time role in the company by July of 2008, though he will be staying on as Chairman of the company as well as advisor on key projects.

Is this a good move for Microsoft? Some people think it is, other were hoping Steve Ballmer would be leaving first.

[Update: fixed my "ie" "ei" problem...]

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