Microsoft CEO Stave Ballmer stunned the tech world today after announcing he will be retiring from the company within the next 12 months.
Pressure had been mounting on Ballmer over the declining PC market, slow uptake of the Windows 8 operating system and the Surface RT tablet, on which Microsoft has taken a $1 billion hit over unsold inventory.
"There is never a perfect time for this type of transition, but now is the right time," Ballmer said in a statement posted on Microsoft’s website. "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."
The company’s board of directors has put in place a strategy to find a successor to Ballmer.
Commenting on Ballmer’s deaprture in the same statement, Microsoft founder and chairman of the board Bill Gates 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."
Ballmer joined Microsoft as its first business manager in 1980 as its 30th employee. He since made a reputation as a forceful character, appearing in TV commercials and company developer events that presented endless viral potential.
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