Steve Ballmer will leave the office and retire in the next 12 months, according to a press release posted on Microsoft’s website. Ballmer will remain as CEO of the company until the directors find a successor to his position. Following the announcement, the share of the company went up by more than 8 percent in the premarket trading and is up almost 7 percent since the market open.
Ballmer joined Microsoft in 1980 and was the company’s first business manager. Ballmer took over various positions – including senior vice president of sales and support, senior vice president of systems software and vice president of marketing – during his stay at Microsoft in the past 33 years. In 2000, Ballmer took of the position of CEO after Bill Gates stepped down.
“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.”
The news will affect the company on a wide scale as they have to choose a new executive with more divers and fresh ideas, someone who can help Microsoft achieve success in the already competitive market. The company has faced setbacks in the mobile operating systems market which dominated by Android and iOS devices, despite the fact that Microsoft is operating in the same mobile market long before Apple released their first iPhone.
The company has not named a successor yet, but it will be announced soon. A committee has been formed to find the suitable successor who could lead Microsoft. Many people consider it to be a good sign for the company as the new executive will come with new ideas to boost the sales of their products.
What do you think? Did Ballmer retire intentionally or was he forced to do so?
Source: Microsoft | Image via Microsoft