Before you think something went wrong to the software giant, Steve Ballmer‘s leaving Microsoft isn’t happening because he simply wants out. Ballmer has announced earlier today that he’s retiring within twelve months.
I have no idea how the whole tech industry is going to take the news but after his announcement, Microsoft shares shot up about 8 percent. It’s a bit of good news for the industry but I’m sure there are those who don’t want him to go just yet.
The 57-year old Microsoft CEO is giving up his post next year to an unknown successor. A special committee has been formed to direct the transition but Ballmer will still be leading. He believes the company’s Senior Leadership Team is already doing great and he’s confident the company will be in good hands.
The board’s lead independent director John Thompson will chair the transition committee. Meanwhile, Bill Gates (Chairman of the Board) , Chuck Noski (Chairman of the Audit Committee), and Steve Luczo (Chairman of the Compensation Committee) will also be part of the team. They will work with executive recruiting firm Heidrick & Struggles International Inc. to review possible candidates fit for the position Steve Ballmer will be vacating.
Gates said he’ll be working closely with members of the board to identify the next CEO.
< Source: Microsoft >