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Thread: Former Microsoft CEO Steve Ballmer Quits Microsoft Board Citing Other Responsibilities

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    What's Jailbreak? Akshay Masand's Avatar
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    Default Former Microsoft CEO Steve Ballmer Quits Microsoft Board Citing Other Responsibilities

    Roughly six months after former Microsoft CEO, Steve Ballmer, handed over the reins at Microsoft, he announced that he is also resigning from the company’s board. He cites outside responsibilities such as the new role of being the owner of the Los Angeles Clippers as part of his reasons for leaving. Ballmer enthusiastically praised Microsoft’s current leadership team, stating that the new CEO is “off to a bold and exciting start.” He continued by writing the following in his lengthy letter which was posted to Microsoft’s website in full:

    No company in the world has the mix of software skills, cloud skills, and hardware skills we have assembled. We draw talent as well as any company in the world. We have the profitability to invest in long-term opportunities and still deliver superior shorter term performance.
    Moving on to himself, Ballmer mentioned that his time is being consumed by outside activities and as a result, it is “impractical” to continue on as a board member. As mentioned before, one of the main reasons for the departure is the responsibility to the basketball team, the Los Angeles Clippers, which he bought in May for $2 billion. He stated the following regarding the matter:

    In the six months since leaving, I have become very busy. I see a combination of the Clippers, civic contribution, teaching and study taking a lot of time. I have confidence in our approach of mobile-first, cloud-first, and in our primary innovation emphasis on platforms and productivity and the building of capability in devices and services as core business drivers.
    In his letter, Ballmer also pointed out that he holds more shares of Microsoft than any one individual excluding funds and is currently expecting to keep it that way for the “foreseeable future.” The New York Times noted that Ballmer has a 3.99% stake in Microsoft, with his shares currently being worth over $15 billion - a number that is even larger than that of the company cofounder Bill Gates. Current CEO, Satya Nadella, wrote a response to the post thanking Ballmer for driving Microsoft to a “mobile-first, cloud-first world.”

    It’s pretty interesting to learn about the news and more shocking to learn that Ballmer has more stakes in Microsoft than the company’s cofounder Bill Gates. Regardless, we’ll have to continue to be patient to see what moves Microsoft makes under its new executive management and how this affects the tech industry and competition for Apple going forward.

    Source: Microsoft, The New York Times
    Last edited by Akshay Masand; 2014-08-21 at 01:14 AM.

    Twitter: @AkshayMasand

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