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By John Oates
Published: 14 January 2000 08:45 GMT
Bill Gates, chief executive of Microsoft, said late yesterday he will resign as CEO in favour of Steve Ballmer.
Gates will remain chairman of the software giant and will take on a new title "chief software architect". Gates said in a statement that the change allows him "to do what I love most, focusing on technologies for the future".
The announcement was made after official trading hours on Nasdaq, but in after the bell trading, Microsoft shares were largely unaffected.
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