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Microsoft's Ray Ozzie to Retire

NEW YORK ( TheStreet) -- Microsoft (MSFT - Get Report) announced Monday that chief software architect Ray Ozzie is stepping down from the company. No specific reasons for the departure or timing were given.

In an email to Microsoft employees, CEO Steve Ballmer said Ozzie will remain at the company until his retirement. Ballmer is not looking to replace Ozzie's position, he said.

Microsoft

Ozzie, who joined Microsoft in 2005 via the company's acquisition of Groove Networks, also founded Iris Associates where he led the development of Lotus Notes.

Microsoft stock declined 2.4% in afterhours trading to $25.24.

--Written by Olivia Oran in New York.



>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

>To submit a news tip, send an email to: tips@thestreet.com.

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