Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Israeli strikes on Gaza as seen on social media

Read more

DEBATE

Africa's Newest Failed State: How to Stop Civil War and Famine in South Sudan? (part 2)

Read more

DEBATE

Israel and the Palestinians: How to Break the Cycle of Violence?

Read more

DEBATE

Africa's Newest Failed State: How to Stop Civil War and Famine in South Sudan?

Read more

AFRICA NEWS

Somalia : Al Shebab attack on presidential palace

Read more

FOCUS

Sharia law to be enshrined in British legal system?

Read more

ENCORE!

How a comedy dud became one of France's biggest box office hits

Read more

AFRICA NEWS

Kenya: Clashes at anti-government rally in Nairobi

Read more

WEB NEWS

ISIS leader challenged over expensive-looking wristwatch

Read more

  • Israel steps up airstrikes as diplomacy gets under way

    Read more

  • Argentina beat Netherlands on penalties to reach World Cup final

    Read more

  • Foiled French jihadist ‘targeted Louvre and Eiffel Tower’

    Read more

  • Obama in Texas to urge congressional action on child migrant crisis

    Read more

  • Iraq’s heritage 'in danger' from ISIS militants

    Read more

  • Froome crashes out of Tour de France

    Read more

  • South Sudan independence heroes ‘have lost their way’

    Read more

  • 100 years on, the Tour de France returns to the Western Front

    Read more

  • Dozens of blindfolded bodies found south of Baghdad

    Read more

  • Alps Murder wife had ex-husband who died on same day

    Read more

  • Both candidates say they won Indonesian presidential election

    Read more

  • Brazil players should never wear 'sacred uniform' again, press says

    Read more

  • Exiled Syrian opposition elects new president

    Read more

  • Ukraine imposes new conditions on peace talks with pro-Russia rebels

    Read more

  • Sarkozy's UMP party 'almost €80 million in debt'

    Read more

Business

Microsoft CEO Steve Ballmer to retire within year

© Photo: AFP

Text by News Wires

Latest update : 2013-08-23

Microsoft Corp said on Friday that Chief Executive Officer Steve Ballmer will retire within the next 12 months once it has selected a successor, sending its shares up almost 9%.

Microsoft CEO Steve Ballmer, who took over the helm of the world’s largest software company from founder Bill Gates, will retire within the next 12 months.

Microsoft Corp. did not name a successor. The company said it is forming a search committee and Ballmer will stay on until a replacement is found.

Microsoft shares shot up 9 percent in premarket trading following the news.

Ballmer, 57, met Microsoft founder Bill Gates in 1973 while they were living down a dormitory hall from each other at Harvard University. He joined Microsoft in 1980 to bring some business discipline and salesmanship to a company that had just landed a contract to supply an operating system for a personal computer that IBM would release in 1981.

Ballmer, a zealous executive prone to arm-waving and hollering, did the job so well that he would become Gates’ sounding board and succeed him as CEO in 2000.

“It’s a tad surprising, but every other business head has been rotated out,” said BGC Financial analyst Colin Gillis. “They swapped out all their segment heads over the past few years. The only one they haven’t changed is the CEO.”

Though investors cheered the news on Friday, Gillis cautioned that it could be a “tough 12 months” for the company.

The obvious successor – former Windows head Steven Sinofsky – got booted by Ballmer, he said.

Sinofsky left the company shortly after the launch of Windows 8 last year.

(AP)

Date created : 2013-08-23

  • TECHNOLOGY

    Battle of the consoles stirs up buzz for E3 gaming expo

    Read more

  • BUSINESS

    PC sales see worst drop ever as slump deepens

    Read more

  • INTERNET

    EU fines Microsoft over web browser options

    Read more

Comments

COMMENT(S)