As announced by Microsoft, CEO Steve Ballmer will be retiring from his position within 12 months. The company is now seen hunting for the new CEO. Along with Bill Gates the board will take up the decision under the leadership of John Thomson.
Six weeks after Microsoft formally announced that its major executive reorg. Microsoft shares are surging pre-market on the news.
As claimed by Microsoft in a press release, It was announced by Microsoft Corp. today that, Chief Executive Officer Steve Ballmer has decided to retire as CEO within the next 12 months, and soon after the completion of a process to choose his successor will begin. However, Ballmer will carry on as CEO and will lead Microsoft through the next steps of its transformation to devices and services of the company that empowers people for the activities that are valued the most.
Ballmer claims that, there was never a perfect time for this type of transition, but now is the right time. They have embarked on a new strategy with a new organization and they had an amazing Senior Leadership Team. His original opinion on timing would have had his retirement happen in the middle of the company’s transformation to a Devices and Services Company. Ballmer added that, they need a CEO who will be here for a longer term.
A special committee to direct the process has been appointed by The Board of Directors. Chuck Noski ; Chairman of the Audit Committee and Steve Luczo; Chairman of the Compensation Committee will be an integral part of the committee. A special committee will be seen working with Heidrick & Struggles International Inc. which is a leading executive recruiting firm that will consider both external and internal candidates.
The Leader of the committee, John Thompson claims that, the board is committed to the effective transformation of Microsoft, to a more triumphant devices and services company. He further added that as this work continues, they are focused on selecting a new CEO to work with the company’s senior leadership team so as to chart the company’s course and perform on it, in a highly competitive industry.
Bill Gates seems to be pleased with Ballmer as in an interview he said that, they were fortunate to have Steve in his role until the new CEO assumes his duties. He also claimed that he’ll be closely working with others members of the managing committee and identify a great new CEO.