Three of Microsoft's top 20 investors are trying to convince the board to ask Bill Gates to step down his post as chairman of the company. Bill Gates founded Microsoft 38 years ago.
In past years, investors have focused on Microsoft's chief executive Steve Ballmer and have put pressure on him to improve the whole company's performance. This is the first time that the blame seems to have been shifted at Gates. Gates is considered one of the most influential and powerful figures in technology.
There has been no official comment from Microsoft representatives.
As for now, there is no way of making sure if the rest of Microsoft's board will even listen to these three investors. Collectively, the three individuals own about 5% of Microsoft stock. For now, the identity of the investors are being kept private as discussions on the matter were still ongoing.
Bill Gates is Microsoft's largest individual shareholder and owns about 4.7% of the company. Microsoft is currently worth $277 billion.
The three investors are apparently concerned that if Gates continues to sit as chairman, he will continue to block the adaptation of new strategies. He may also be successful in limiting any new chief executive to successfully make any substantial changes. They want to prevent Gates from having too much influence in the search for Ballmer's successor.
Worry was also expressed that Gates, may yield power out of proportion in the company. It has been observed that Bill Gates has been focusing more on his philanthropic foundation.
Gates owned about 49% of Microsoft before the company went public in 1986. It has been observed that he sells about 80 million shares per year. If Gates continue with this trend then he will have no more financial stake left in Microsoft by the year 2018.
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