Steve Ballmer to Step Down, Search for Replacement Begins
Microsoft has announced that Steve Ballmer, longtime CEO of Microsoft and successor to Bill Gates, will be stepping down as CEO within the next twelve months. In light of this announcement, stock prices surged as investors believe that the new leadership will do a lot of good for the currently stagnant company.
Ballmer had been an integral part of Microsoft’s success in the past, being responsible for Windows XP and the Xbox 360, which helped Microsoft become the most valuable company at one point in its long history. However, the lack of foresight into the surging smartphone and tablet market coupled with the decline in PC sales due to said smartphone and tablet market brought the once $400 billion company down by almost half. More recently, however, Microsoft began making a comeback, with its stock prices increasing 22% in the advent of its own tablets and tablet-like computers.
And so, as Ballmer steps down, investors are hoping that a replacement will be found outside of Microsoft’s own ranks to bring fresh perspective and new direction to the stagnating company. Ballmer will stay on as CEO until a replacement can be found.