TribLIVE

| USWorld


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Microsoft says CEO Ballmer to retire in 12 months

AFP/Getty Images
Microsoft CEO Steve Ballmer is preparing to call it quits. In a surprise announcement made Friday, Microsoft said that its longtime chief executive is planning to retire within the next year and that it is still deciding on who will succeed him as CEO.

Email Newsletters

Click here to sign up for one of our email newsletters.

Daily Photo Galleries

By The Associated Press
Friday, Aug. 23, 2013, 10:00 a.m.
 

NEW YORK — Microsoft CEO Steve Ballmer, who took over the helm of the world's largest software company from founder Bill Gates, will retire within the next 12 months.

Microsoft Corp. did not name a successor. The company said it is forming a search committee and Ballmer will stay on until a replacement is found.

Microsoft shares shot up 9 percent in premarket trading following the news.

Ballmer, 57, met Microsoft founder Bill Gates in 1973 while they were living down a dormitory hall from each other at Harvard University. He joined Microsoft in 1980 to bring some business discipline and salesmanship to a company that had just landed a contract to supply an operating system for a personal computer that IBM would release in 1981.

Ballmer, a zealous executive prone to arm-waving and hollering, did the job so well that he would become Gates' sounding board and succeed him as CEO in 2000.

“It's a tad surprising, but every other business head has been rotated out,” said BGC Financial analyst Colin Gillis. “They swapped out all their segment heads over the past few years. The only one they haven't changed is the CEO.”

Though investors cheered the news on Friday, Gillis cautioned that it could be a “tough 12 months” for the company.

The obvious successor — former Windows head Steven Sinofsky — got booted by Ballmer, he said.

Sinofsky left the company shortly after the launch of Windows 8 last year.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Nation

  1. Internal NBC News inquiry finds 11 fibs by anchorman Williams
  2. Experts met in Nepal week ago to discuss earthquake they knew would rip into Kathmandu
  3. GOP presidential candidates decry potential nuke deal with Iran to Republican Jewish Coalition
  4. Police protesters tangle with baseball fans in Baltimore
  5. Oregon mulls law limiting antibiotic use on livestock
  6. Police protesters tangle with baseball fans in Baltimore
  7. AG misled Congress on spying dispute, Bush-era report says
  8. Maybe Manhattan coyote just wanted a good mocha latte
  9. Buffalo weighs public boarding school proposals for at-risk kids
  10. Federal highway fund shortage batters states
  11. 3 found dead in California tire shop fire