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Microsoft chief Steve Ballmer to retire within a year

, August 24, 2013, 0 Comments

Microsoft chief Steve Ballmer has announced he’d step down as the company’s CEO within the next 12 months. He spoke of a deep restructuring of the firm that needed longer-term supervision and management.

Steve Ballmer said the company was looking for a successor at the helm of the US tech giant.

“There’s never a perfect time for this type of transition, but now is the right time,” Ballmer said in a statement Friday explaining his decision to leave within a year.

“My original thoughts on timing would have had my retirement happen in the middle of our company’s transformation to a devices and services firm, and we need a CEO who will be here longer term for this new direction.”

Mixed outlook

In June of this year, Microsoft presented an earnings report which reflected the company’s difficulties in adapting to a technology market ruled by mobile devices and smartphones. Financial Officer Amy Hood had to announce an almost $900 million (674 million euro) writedown on the value of unsold Surface tablets.

She admitted that it would take a long time for Microsoft’s position in tablets to make up for the shrinking PC market. With more than 80 percent of the firm’s revenues coming from Windows-related business, the steady decline of the PC sector has had some analysts predicting a gloomy future for the company.

But Microsoft still has $77 billion in cash reserves, and an imminent update to Windows 8 is expected to address many of the concerns that hampered uptake of the firm’s latest operating system.

Source: Deutsche Welle |

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Deutsche Welle (DW) is Germany’s international broadcaster, Headquarters in Bonn and Berlin, having full range of presence in television, radio and online services. DW is known for its in-depth, reliable news and information in more than 30 languages ...more