Posted By RichC on August 23, 2013
A big announcement day for lovers and haters of the software behemoth Microsoft (MSFT) as CEO Steve Ballmer announced that he intends to step down in the next 12 months. His timeframe will help in making a smooth transition as the board selects a new chief.
Ballmer’s management has been flat-footed by all accounts and has lag behind in technology leadership over the past decade. This weakness stimulated many to call for his resignation in recent years and even Ballmer hinted that the company needs “longer term” leadership to move the company toward a “devices and services company.”
Early in Friday trading, investors and traders liked what they heard and traded MSFT up 8% from the previous close.