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Steve Ballmer To Retire In 12 Months; What They’re Saying

In quite a surprise move, Microsoft has announced that its CEO Steve Ballmer has decided to retire within the next 12 months. Ballmer had taken over as Microsoft CEO from co-founder Bill Gates in 2000 and has been with the company since its inception. While the company hasn't announced any successor yet, it plans to choose a successor in the next 12 months, for which it has appointed a special committee headed by John Thompson and has members like Board Chairman Bill Gates, Audit Committee chairman Chuck Noski and Compensation Committee chairman Steve Luczo. What's surprising here is not that Ballmer is quitting, but the rather long transition period. Microsoft might be looking to ensure that there is continuity, over a longer period of time, but 12 months is unusually long. This is especially true when Microsoft recently underwent a major restructuring dubbed as 'One Microsoft', through which all company divisions (Windows, Windows Phone, Xbox and others) were expected to collaborate together to deliver better products to consumers. In a memo to Microsoft employees, Ballmer however said - "There is never a perfect time for this type of transition, but now is the right time". He also added that the original timing for this announcement was somewhere in the middle of Microsoft's transformation to a devices and services company but they needed "a CEO who will be here longer term for this new direction". This announcement led to a 7% surge in Microsoft's share price, increasing the company's value by $18 billion as indicated by a TechCrunch…

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