Steve Ballmer, Microsoft CEO, has announced that he plans retire in the next twelve months, depending on when a replacement can be found.
The company publicly announced the news on Friday, which resulted in the company’s stock shooting up by nearly 9% in pre-market trading.
(Microsoft, founded in 1975, is a multinational tech corporation based in Redmond, Wash. Microsoft is best known for launching the Windows operating system in 1990. The company played a huge role in molding and enhancing the Internet over the last two decades, under the leadership of Bill Gates.
Microsoft specializes in products, software and game development. The company excels in technological innovations. In 2009, Microsoft launched Bing -- a new "decision engine" to compete with Google. Bing is now one of the biggest search engines on the web and powers Yahoo.
The current CEO of Microsoft is Steven Ballmer. Bill Gates stands as the corporation's chairman. Microsoft's long list of businesses and company divisions include Xbox 360, Zune Music and Video, Office, Exchange, MSN portals, Skype, So.Cl and much more.)
In a statement Ballmer said, “There is never a perfect time for this type of transition, but now is the right time. We have embarked on a new strategy with a new organization and we have an amazing Senior Leadership Team. My original thoughts on timing would have had my retirement happen in the middle of our company’s transformation to a devices and services company. We need a CEO who will be here longer term for this new direction.”
Only one month ago Ballmer Ballmer led a massive reorganisation of the company in a bid to bring all the divisions under one unified vision. Microsoft has said that a special committee has been appointed to oversee the process of hunting for Ballmer’s replacement.
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