Microsoft today announced that its Chief Executive Officer Steve Ballmer has decided to retire from the position within next 12 months although for the period Ballmer will remain continue to work as CEO. The move results in company’s Board of Directors to appoint a special committee to direct the process.
“There is never a perfect time for this type of transition, but now is the right time,” Ballmer said. “We have embarked on a new strategy with a new organization 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.”
