Microsoft Chairman Bill Gates (pictured) will relinquish his other title of Chief Software Architect, effectively ending his day-to-day participation in the ongoing operations of the company he co-founded three decades ago, Microsoft Corp. Ray Ozzie, who came over to Microsoft with the Groove Networks deal, will now serve as Chief Software Architect.

Gates had relinquished his CEO title to Steve Ballmer some time ago, as he started to spend more time with his philanthropic activities with the Bill and Melinda Gates Foundation. In announcing that he will no longer be involved with Microsoft on a day-to-day basis he said he was going to spend more time on this work, especially in the areas of global health and education.

So as not to upset the stock market unduly, the company announced that there will be a two-year transition (ending when Windows Vista finally ships, perhaps?), "to ensure that there is a smooth and orderly transfer of (his) daily responsibilities. Even after this transition is completed in 2008, Gates, still the company's largest stockholder, plans to continue as company chairman.

Current Chief Technical Officer and industry legend Ray Ozzie, who joined Microsoft when Redmond acquired Groove Networks last year, will "immediately" assume the title of Chief Software Architect, the company said. Microsoft exec Craig Mundie will immediately take the new title of chief research and strategy officer and will work with Gates on "research and incubation efforts," the company said.