Microsoft CEO Ballmer To Retire In 12 Months

Microsoft CEO Ballmer to retire in 12 months

IT mogul Microsoft announced on Friday that its incumbent chief executive Steve Ballmer will retire within the next 12 months, ending a 13-year tenure at the world’s leading software manufacturer.

In a statement on its site, Microsoft announced that “upon the completion of a process to choose his successor“, Ballmer would exit the company within the coming year.

However, “In the meantime, Ballmer will continue as CEO and will lead Microsoft through the next steps of its transformation to a devices and services company that empowers people for the activities they value most,” added the statement.

Steve Ballmer’s declaration of the scheduled retirement comes during a time of major market transition for the company as consumers focus shifts from traditional desktop PCs to tablets and other cutting-edge mobile devices.

Ballmer, who previously worked at Apple and Google, played a key role in driving Microsoft’s strategy for cloud computing, with acquisitions like Skype.

However, during Mr. Ballmer’s reign, Microsoft endured years of criticism from the investor as the evolution of mobile devices and cutting-edge Internet services wore down the impact of the personal computer giant.

The company, led by Mr. Ballmer, responded to the pressures from its patrons in a number of ways including going through the radical path of developing and selling its own tablet-style computer to compete with longtime competitors like Apple.

The decision comes on the back of constant criticism from patrons and competitors alike as back in May, 2012, hedge fund manager David Einhorn called for the CEO to quit his position.

His continued presence is the biggest overhang on Microsoft’s stock,” reported an article on the Fox Business quoting Mr. Einhorn.

In the mean time, in an emotional memo to Microsoft staff, Mr. Ballmer dubbed the company an “amazing place,” stating that he “committed 100 percent emotionally all the way,” reports NASDAQ.

US stocks opened higher as the market got a jolt from the Microsoft announcement, reports Yahoo Finance.

The computing giant’s shares rose to 6.7 percent to $34.55 in starting trade as Ballmer, who replaced Microsoft co-founder Bill Gates back in 2000, said the company would look for a new leader who is capable of taking charge of its “transformation to a devices and services company.”

Wall Street overall followed the global trend higher in markets as five minutes into trade, the Dow Jones Industrial Average was up 14.86 points (0.10 percent) at 14,978.60 as well, the report added.

By Blake Adams

Blake Adams

Blake Adams is a freelance writer and journalist who covers and loves technology related topics. Blake currently covers daily cloud related news topics for CloudTweaks Media.

Sorry, comments are closed for this post.

Cloud Infographic: Disaster Recovery

Cloud Infographic: Disaster Recovery

Cloud Infographic: Disaster Recovery  Business downtime can be detrimental without a proper disaster recovery plan in place. Only 6% of businesses that experience downtime without a plan will survive long term. Less than half of all businesses that experience a disaster are likely to reopen their doors. There are many causes of data loss and…

Cloud Computing Adoption Continues

Cloud Computing Adoption Continues

Cloud Computing Adoption Continues Nowadays, many companies are changing their overall information technology strategies to embrace cloud computing in order to open up business opportunities.  There are numerous definitions of cloud computing. Simply speaking, the term “cloud computing” comes from network diagrams in which cloud shapes are  used to describe certain types of networks. All…

5 Considerations You Need To Review Before Investing In Data Analytics

5 Considerations You Need To Review Before Investing In Data Analytics

Review Before Investing In Data Analytics Big data, when handled properly, can lead to big change. Companies in a wide variety of industries are partnering with data analytics companies to increase operational efficiency and make evidence-based business decisions. From Kraft Foods using business intelligence (BI) to cut customer satisfaction analysis time in half, to a…

Cloud Infographic – Cyber Security And The New Frontier

Cloud Infographic – Cyber Security And The New Frontier

Cyber Security: The New Frontier The security environment of the 21st century is constantly evolving, and it’s difficult to predict where the next threats and dangers will come from. But one thing is clear: the ever-expanding frontier of digital space will continue to present firms and governments with security challenges. From politically-motivated Denial-of-Service attacks to…

The Business Benefits of Cloud CRM

The Business Benefits of Cloud CRM

The Business Benefits of Cloud CRM From software deployment, to mobility, to wearable technology, cloud computing has transformed seemingly every aspect of modern business. Research indicates cloud applications and platforms will be at the forefront of IT spending by 2016, with half of all enterprises implementing cloud solutions by 2017. One of the quickest markets…

CONNECT TO THE CLOUD

 

Cloud Logo Sponsors

hp Logo CityCloud-PoweredByOpenstack-Bluesquare_logo_100x100-01
cisco_logo_100x100 vmware citrix100


Contributor Spotlight

Established in 2009, CloudTweaks is recognized as one of the leading influencers in cloud computing, big data and internet of things (IoT) information. Our goal is to continue to build our growing information portal, by providing the best in-depth articles, interviews, event listings, whitepapers, infographics and much more.

Contact

CloudTweaks Media
Phone: 1 (212) 763-0021