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BOMBSHELL ANNOUNCEMENT: Microsoft CEO Steve Ballmer to retire within 12 months

By Catholic Online (NEWS CONSORTIUM)
August 23rd, 2013
Catholic Online (www.catholic.org)

In what is seen as a bombshell announcement, Microsoft CEO Steve Ballmer has announced that he will be retiring within 12 months. Microsoft is now beginning their search for a suitable replacement.

LOS ANGELES, CA (Catholic Online) - The announcement brings to a close a regime marked by Microsoft's decline as it frantically tries to keep pace with its competitors.

Ballmer is to retire "upon the completion of a process to choose his successor. 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," Microsoft said in a statement.


The eyes of the technological world are now upon as to whom Ballmer's replacement will be. Investors welcomed the news by sending Microsoft's shares surging by more than seven percent. This has added a whopping $24 billion to the software company's market capitalization.


Markets were surprised, as the announcement came only a month after the Redmond-based tech giant declared a broad reorganization to capitalize on the inexorable shift toward mobile technology. Ballmer had acknowledged the shift, as he complemented the new leadership team.


"There is never a perfect time for this type of transition, but now is the right time," Ballmer said in a statement.


"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," he added. "We need a CEO who will be here longer term for this new direction."


Microsoft's dominance in office software had hit hard times. The demonstrable slump in personal computer sales proved this. Windows and Microsoft Office products have slid in popularity to mobile applications that provide users with both entertainment and productivity.


Ballmer had succeeded billionaire Bill Gates in 2000, the fabled "boy wonder" whose knack for technology innovation was rivaled only by deceased Apple CEO Steve Jobs. Much like Apple's current CEO Tim Cook, Ballmer was forced to wrestle with unfavorable comparisons to his predecessor, despite a much more flamboyant personal style that made for several popular online videos.



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