CNET: "In a press conference held Thursday after the stock markets had closed for regular trading, Gates announced that over the next two years he will gradually step away from his daily responsibilities at the company he co-founded some 30 years ago. Microsoft's Chief Technical Officer Ray Ozzie will immediately assume the title of chief software architect."

Two years is a long time, but this is an important announcement (we all knew it was coming some day). I thought it was handled well and I look forward to seeing the analysis of other Microsoft people over the next day or two…