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Microsoft's Ray Ozzie to Retire

Microsoft announced that chief software architect Ray Ozzie is stepping down from the company.

NEW YORK (TheStreet) -- Microsoft (MSFT) - Get Microsoft Corporation (MSFT) 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.

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.

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--Written by Olivia Oran in New York.

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