Monday, November 20, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Toshiba's Board Approves $5 billion Injection to Stay Listed
LG Electronics Launches the ThinQ Hub AI Speaker
Verizon Signs Deal with NFL: report
Microsoft Offers Discounted Games for Xbox Live Gold Members, Sony Unveils PlayStation Deals
Apple HomePod Smart Speaker Won't Be an Option For Holiday Shopping
G.Skill Unveils Trident Z DDR4-4400 32GB CL19 Kit
Spotify Buys Soundtrap
Volkswagen to Invest Over $40 billion on Future Cars
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Microso...
Last 7 Days News : SU MO TU WE TH FR SA All News

Friday, August 23, 2013
Microsoft CEO Steve Ballmer to Retire


Microsoft today announced that Chief Executive Officer Steve Ballmer has decided to retire as CEO within the next 12 months, upon the completion of a process to choose his successor.

In the meantime, Ballmer will continue as CEO and will lead Microsoft through the next steps of its transformation to a devices and services company.

Ballmer himself acknowledged his decision was abrupt. He added he had originally considered retiring in the middle of the reorganization, but eventually decided "we need a CEO who will be here longer term for this new direction."

"There is never a perfect time for this type of transition, but now is the right time," Ballmer said. "We have embarked on a new strategy with a new organization and we have an amazing Senior Leadership Team. My original thoughts on timing would have had my retirement happen in the middle of our company's transformation to a devices and services company. We need a CEO who will be here longer term for this new direction."

Microsoft's board has appointed a special committee to direct the process. This committee is chaired by John Thompson, the board's lead independent director, and includes Chairman of the Board Bill Gates, Chairman of the Audit Committee Chuck Noski and Chairman of the Compensation Committee Steve Luczo. The special committee is working with Heidrick & Struggles International Inc., a leading executive recruiting firm, and will consider both external and internal candidates.

"The board is committed to the effective transformation of Microsoft to a successful devices and services company," Thompson said. "As this work continues, we are focused on selecting a new CEO to work with the company's senior leadership team to chart the company's course and execute on it in a highly competitive industry."

"As a member of the succession planning committee, I'll work closely with the other members of the board to identify a great new CEO," said Gates. "We're fortunate to have Steve in his role until the new CEO assumes these duties."

Last month Ballmer launched a massive reorganization to reshape Microsoft into a company focused on devices and services, essentially mimicking Apple.

Ballmer has also tripled Microsoft's revenues and more than doubled its profits since he became CEO, but its share price has essentially stayed flat over the last decade, and never came close to the split-adjusted high of $59.97 it reached in late 1999, before the tech stock bubble burst.


Previous
Next
Court Rules Samsung And Apple Don't Have To Disclose Profit Details        All News        GIGABYTE Launch Intel H81 Series Motherboards
Court Rules Samsung And Apple Don't Have To Disclose Profit Details     General Computing News      Groups Hit $8.5M Google Settlement Plan

Get RSS feed Easy Print E-Mail this Message

Related News
Top Black Friday deals from Microsoft
Microsoft Cloud Continues to Grow, Powers First Quarter Results
Microsoft to Buy Wind Energy From GE's new Wind Farm in Ireland
Microsoft Brings the Edge Browser to iOS and Android
Microsoft Announces First Windows S Devices, Brings cloud, AI and Mixed Reality to Businesses
Windows Creators Update Available in October
Microsoft Surface Devices Fail on Reliability
Microsoft Coco Framework Improves Performance and Governance Characteristics of Enterprise Blockchain Networks
New Microsoft keyboard brings Windows Hello to Windows 10 PCs
Microsoft pays up to $250,000 for Windows 10 bugs
Microsoft Paint isn't Dead Yet
Microsoft Reports Strong Profit on Cloud Demand

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .