Today Microsoft has announced that Steve Ballmer, the companies CEO, will be retiring his position within the next 12 months. Ballmer will stay on the tech firm until his replacement is hired. Ballmer has been with Microsoft since 1980, and was the first business manager hired by Bill Gates in the company's fledgling years. He was named CEO in 2000 and helped to usher in the Xbox era when the company entered the games console business in 2001.
"There is never a perfect time for this type of transition, but now is the right time," Ballmer is quoted as saying. "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."
This is the second loss for Microsoft in the past year. Recently, Ballmer has been overseeing the Xbox business following former head Don Mattrick's departure. Although Microsoft did not comment on Mattrick's departure Zynga announced in a press release that former Microsoft Entertainment and Devices boss Don Mattrick has been named Chief Executive Officer of the PC software company. The press release also said Mattrick would sit on Zynga's Board of Directors.
As for Mattrick's replacement, no candidates have been mentioned but Bill Gates, who will sit on the board search committee tasked with finding Ballmer's replacement, said Microsoft is "fortunate to have Steve in his role until the new CEO assumes these duties."
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