Microsoft Biz Unit Chief Jeff Raikes to head Gates Foundation

For all those wondering what Microsoft Business Division President Jeff Raikes would do once he retires from Microsoft in September, the uncertainty is over.

Raikes is going to become the new CEO of the Bill & Melinda Gates Foundation.

Raikes is replacing another former Microsoft exec, Patty Stonesifer, who is currently serving as the Gates Foundation CEO.

When Raikes announced his retirement from Microsoft, many speculated he did so because he was unwilling to wait nine years for CEO Steve Ballmer to step down. In the end, it looks like Raikes gets to fulfill his CEO dreams -- just not at Microsoft.

Raikes is set to be replaced at Microsoft by former Juniper Network Chief Operating Officer Stephen Elop. The Microsoft Business Division, which Elop will run, oversees the Office client, Office Server, Office Communications Server  and Dynamics ERP products, among others.