SAN FRANCISCO, Dec 24, 2012 - Microsoft announced on Monday that company veteran Craig Mundie has stepped down from his post as chief of research and will retire in the year 2014.

Mundie, who was one of two executives who assumed responsibilities left behind by Bill Gates when the Microsoft co-founder retired in 2008, will now serve as an advisor to chief executive Steve Ballmer.

“In this role, he works on key strategic projects within the company, as well as with government and business leaders around the world on technology policy, regulation and standards,” Microsoft said on its website.

Mundie began his career in 1970 and joined Redmond, Washington-based Microsoft in 1992, according to his biography on the corporate website.

When Gates retired, Mundie was entrusted to oversee Microsoft research and “long-term technology strategy,” according to his online bio.