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

'American Coyotes' Series

Traveling by Jeep, boat and foot, Tribune-Review investigative reporter Carl Prine and photojournalist Justin Merriman covered nearly 2,000 miles over two months along the border with Mexico to report on coyotes — the human traffickers who bring illegal immigrants into the United States. Most are Americans working for money and/or drugs. This series reports how their operations have a major impact on life for residents and the environment along the border — and beyond.

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. 911 dispatcher hung up on caller before wounded teen’s death in June
  2. Feds accuse Philadelphia congressman Fattah of corruption
  3. Undocumented alien released, suspected in crime spree
  4. Obama hopes he has enough votes to sustain a potential veto of Iran nuke deal; pro-Israel groups aim to stop it
  5. Cincy officer indicted on murder charge in fatal shooting of motorist
  6. Calif. oil slick expected to dissipate
  7. Defense memo reveals plan to protect transgender troops
  8. New TSA administrator vows training to address security gaps
  9. Compromise keeps highway accounts funded
  10. Planned Parenthood requests expert study
  11. House approves bill targeting VA staffers