Microsoft Corp. today announced that Wm. G. Reed Jr., former chairman of Simpson Investment Company, has decided not to seek re-election to Microsoft’s board of directors at the company’s November shareholder meeting. Reed’s decision was prompted by his desire to begin limiting his business commitments and spending more time on personal matters. Reed joined the Microsoft board in October 1987.

"Gary has made invaluable contributions to the Microsoft board over the last 17 years, particularly as a member and chair of the audit committee," said Bill Gates, chairman and chief software architect at Microsoft. "We are grateful for Gary’s insight and guidance over the years, but we also understand his desire to retire after 17 years of service to Microsoft’s board."

Charles H. Noski, corporate vice president and chief financial officer of Northrop Grumman Corp., and formerly vice chairman of AT&T Corp., will replace Reed as the Audit Committee chairman. Ann McLaughlin Korologos, chairman emeritus of The Aspen Institute and senior advisor at Benedetto, Gartland & Company Inc., will join the Audit Committee. The Microsoft board of directors has authorized a reduction in the size of the board from 10 to nine members upon Reed’s retirement.