Microsoft CEO, Steve Ballmer to Retire Within the Year [Global Data Point]
(Global Data Point Via Acquire Media NewsEdge) Microsoft's Steve Ballmer has announced that he is stepping down as the company's CEO within a year, sparking a hunt for a successor to lead the software giant.
He may have been slightly discomforted by the fact that the company's shareprice jumped nearly 10 percent on the news of his planned retirement.
In a letter to staff, he said that "There is never a perfect time for this type of transition, but now is the right time." However, he added that "We need a CEO who will be here longer term for this new direction."
Steve Ballmer joined Microsoft in 1980, and has been the CEO since 2000 when he took over fro Bill Gates.
Known for his pugnacious management style, he has been criticized in recent years as the company foundered to find fresh avenues of growth away from its Windows/Office software duo.
Although the move into the Xbox games console market proved an unexpected success, the company has never really succeeded with mobile or internet services.
The company has created a special committee to find a replacement. This committee includes Microsoft founder, and still a large shareholder in the company, Bill Gates.
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