After 33 years at the company, Microsoft CEO Steve Ballmer has said today that he will retire within the next 12 months. Until a successor is chosen, for which the company has already created a special committee that also includes Microsoft founder and Chairman Bill Gates, Ballmer will continue to act as CEO (via MarketWatch).
The news apparently gave a big boost to Microsoft’s shares, which closed up 7.3% to $34.75 today. In a statement, the 57 year old Ballmer said “There is never a perfect time for this type of transition, but now is the right time”. He was Microsoft’s 30th employee, and has overseen a period of change in which the world’s largest software maker transitioned away from its focus on PC operating systems to multiple platforms and hardware.
Ballmer has led the software titan since co-founder Bill Gates stepped down from the top job in 2000. During that time, the size of the business has more than tripled, thanks mostly to growth of the core Windows and Office businesses, as well as new lines such as the Xbox videogame business.
But the company’s revenue growth has stalled over the past couple of years, as PC sales have slipped globally due to the rising popularity and capabilities of mobile devices such as smartphones and tablets — businesses that Microsoft so far has not been able to build a strong presence in.
According to Microsoft, lead independent director John Thompson will head up the search for a new CEO.
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Xbox was and is hugely successful, but yeah they might need new blood to keep things fresh for the company. Kind of kick in the ass when stock prices go up when you mention your retirement though lol. Usually it goes down, wonder how he feels about that one. “oh yeah well, screw you all” lol
Lmao @ stock price rising.
Yeah that WAS funny stock prices rose upon hearing of his retirement announcement but hey I’d take his compensation package in a heartbeat!
Yeah sure he can dry his tears with 1000 dollar bills. in fact he can make more money on his stock options if he says he is leaving early. I can see his wife “honey, we need a vacation home in the islands, could you mention to the media that after retirement you will have no future dealings with the company? thanks”
“…the company’s revenue growth has stalled…” : from my point of view it started stalling in 2007, just after Balmer laughed at the iPhone…
Had to go rewatch that video…classic =)
I hope MS gets their act together in the next few years. Such a great company on such a cold streak.
Yeah, Steve Ballmer is a monkey. Period.
Two words: Forced retirement.
Nooooo… think of the developers.