Microsoft CEO Ballmer to Retire Within 12 Months
By Jobs & Hire Staff Reporter | Aug 23, 2013 09:58 AM EDT
Microsoft Corp said on Friday that Chief Executive Officer Steve Ballmer would retire within the next 12 months, once it has selected a successor, sending its shares up almost 9 percent.
Ballmer said in a statement that he would have timed his retirement in the middle of Microsoft's announced transformation to a devices and services company. But he said: "We need a CEO who will be here longer term for this new direction."
The software company said its board had appointed a special committee to direct the process of appointing a new CEO.
The committee is chaired by John Thompson, the board's lead independent director, and includes Microsoft founder and Chairman Bill Gates, as well as other board members Chuck Noski and Steve Luczo.
It will consider both external and internal candidates and is working with executive recruiting firm Heidrick & Struggles International Inc, according to the company.
Microsoft shares rose 8.9 percent to $35.27 in premarket trading.
Most Popular
-
1
Setting Boundaries: Why It Is Important to Separate Personal and Professional Relationships -
2
Workplace Distractions That Kill Productivity: It's in Our Hands All the Time -
3
Airlines Industry Report: Passenger and Cargo Airline Employment Statistics as of May 2024 -
4
Diehard Democrat Fired After Posting What She Intended to Be 'Comedic' About Trump’s Assassination -
5
Customs and Border Protection Works with Canines as Biosensors of Smuggled Fentanyl, Firearms at the Mexico Border -
6
Secret Service Faces Scrutiny Over Trump’s Assassination, Causing Calls for The Chief’s Resignation -
7
Even Elon Musk Hates Office Jargons. Here’s Why