Microsoft CEO Steve Ballmer to retire in next 12 months

Microsoft today announced that its Chief Executive Officer, Steve Ballmer, has decided to retire as CEO within the next 12 months. The event will take place upon the completion of a process to choose his successor, according to the official statement.

In the meanwhile, Ballmer will continue as the CEO of the company and lead Microsoft. The company, in the next few months, plans to start a transition towards becoming a devices and services company that “empowers people for the activities they value most”.

While talking about this, Microsoft’s head honcho 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 organisation 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.”

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Microsoft CEO Steve Ballmer plans to retire in the next 12 months

In order to facilitate the process, the Board of Directors has appointed a special committee for the same. This committee will be chaired by John Thompson, who is the board’s lead independent director, and also includes Chairman of the Board Bill Gates, Chairman of the Audit Committee Chuck Noski and Chairman of the Compensation Committee Steve Luczo.

According to the statement, the special committee will be working in tandem with Heidrick & Struggles, which is a leading executive recruiting firm. The committee will take into account both external and internal candidates for the position vacated by Ballmer.

While talking about this, Thompson said, “The board is committed to the effective transformation of Microsoft to a successful devices and services company. As this work continues, we are focused on selecting a new CEO to work with the company’s senior leadership team to chart the company’s course and execute on it in a highly competitive industry.”

Microsoft founder Bill Gates, while talking about this, said, “As a member of the succession planning committee, I’ll work closely with the other members of the board to identify a great new CEO. We’re fortunate to have Steve in his role until the new CEO assumes these duties.”