Microsoft Chairman Bill Gates and retiring CEO Steve Ballmer would stand for re-election to software maker's board of directors. This was despite recent moves by some investors in the company to decrease the influence of both executives at Microsoft. This was according to the company's annual profit filing last Thursday.

The computer software maker's activist investors had set their eyes on both Ballmer and Gates. The said investors believed that the company needed to be under a new leadership to transform itself to compete with its rivals like Google and Apple.

CEO Ballmer made his announcement to retire within a year last August. Meanwhile, Gates did not show signs if he would relinquish his role or step down from the company's board which he founded 38 years ago with Paul Allen.

Reuters had reported this week that three of Microsoft's top 20 investors had lobbied the board to urge for Gates to step down from office. The three investors said that a fundamental change was needed at the company. Microsoft declined to comment on the report.