Corbis, the Seattle image company founded by Bill Gates, said today that Chief Executive Steve Davis will step down to go to the "public service and philanthropic world." A spot at the Bill & Melinda Gates Foundation, perhaps?

Gary Shenk

On July 1, Davis will be replaced by Gary Shenk, who has been serving as company president. Davis will continue to be an adviser to Corbis.

Before joining Corbis in 2003, Shenk was the founder and general manager of an arm of Universal Studios that oversaw media licensing. According to Corbis, Shenk brokered deals between studios and talent agencies and helped establish new formats for licensing.