Sub ConvertToGIF()
Application.ScreenUpdating = False
Dim i As Long, Rng As Range
With ActiveDocument
  For i = .InlineShapes.count To 1 Step -1
    Set Rng = .InlineShapes(i).Range
    Rng.Cut
    Rng.PasteSpecial Link:=False, DataType:=13, Placement:=wdInLine, DisplayAsIcon:=False
  Next
End With
Set Rng = Nothing
Application.ScreenUpdating = True
End Sub