December 4, 2022
Microsoft CEO Steve Ballmer to Retire Within 12 Months

Microsoft CEO Steve Ballmer to Retire Within 12 Months

Posted August 23, 2013 at 2:23pm by iClarified · 6835 views
Microsoft CEO Steve Ballmer has announced his plan to retire within 12 months. The company's board of directors has initiated its succession process and Ballmer will remain CEO until his successor is named.

Microsoft's stock is up 7% on the news. You can read the full announcement below...

Microsoft CEO Steve Ballmer to Retire Within 12 Months

Microsoft Corp. 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 that empowers people for the activities they value most.

“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 Board of Directors 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.”
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Tonybenji - August 25, 2013 at 12:51am
Steve Ballmer would make an excellent used car salesman!
awqd - August 24, 2013 at 1:41pm
Heh.... Retire due to how Win 8 failed specially by removing the controversal icon of a Windows OS which is the Start Button.... Also forcing Desktop Users to make their Desktop PC's a Tablet with the Metro UI and that hilarious whole screen Start Menu.... Thank God there's Win 7 as the next Win XP.... Even the CEO of Xbone left due to how fail it was aswell.... I just hope Micro$oft returns to their original views in making their OS or other products more practical for specific users eg. Desktop PC = Desktop OS/ Tablet = Tablet and not vice versa... Waiting for Win 9 till then...
prostovank - August 23, 2013 at 4:33pm
OMG THANK GOD! Ballmer is a dinosaur and his methods are useless. Microsoft has vast resources but horrible management skills. Please take others with you too Ballmer.
B52 - August 23, 2013 at 2:26pm
Allright, now Cook.
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