FOXNews.com: BALLMER TO RETIREMicrosoft's CEO Says He'll Leave Post Within Year

FOXNews.com FOX News Channel - We Report. You Decide. // via fulltextrssfeed.com

The Best Way to Manage your Money. Start using Mint today to set a budget, track your goals and do more with your money. From our sponsors

BALLMER TO RETIREMicrosoft's CEO Says He'll Leave Post Within Year Aug 23rd 2013, 14:41 Microsoft says CEO Steve Ballmer will retire within the next 12 months, the world's biggest software company announced on Friday.  "There is never a perfect time for this type of transition, but now is the right time," Ballmer said, according to a press release on the company 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." Microsoft Stock Leaps Shares reacted positively to the news, leaping 8.8 percent to $35.25 in pre-market trading, Fox Business reported. The stock had risen 4.8 percent, weaker than the broader market, as of Thursday's close. For more on the impact on Microsoft Corp., see FoxBusiness.com. The announcement comes at a time of transformation for the computer company and computer industry as a whole, both of which Ballmer himself helped to create.  In an internal email sent to the company's employees, Ballmer said the timing of the announcement came during a period of transition for the company. "My original thoughts on timing would have had my retirement happen in the middle of our transformation to a devices and services company focused on empowering customers in the activities they value most. We need a CEO who will be here longer term for this new direction." Miicrosoft is in the middle of that exact transformation. The advent of tablet computers and the rise of smartphones have seen a dramatic collapse in purchases of new desktop and laptop computers, which have been the company's bread and butter for decades. The recently released Windows 8 operating system was designed as Microsoft's answer to that change, a rethinking of the company's flagship software product to address the demand for tablets.  That effort has been met largely with resistance, with reports that touch-enabled tablet computers have largely sat on store shelves. Microsoft Corp.'s stock is up sharply in premarket trading following the announcement, FoxBusiness reported.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions