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Steve Ballmer, Microsoft CEO, has announced that he plans retire in the next twelve months, depending on when a replacement can be found. The... Microsoft CEO to Retire In The Next Year

Steve Ballmer, Microsoft CEO, has announced that he plans retire in the next twelve months, depending on when a replacement can be found.

The company publicly announced the news on Friday, which resulted in the company’s stock shooting up by nearly 9% in pre-market trading.

Microsoft CEO to Retire In The Next Year

In a statement Ballmer said, “There is never a perfect time for this type of transition, but now is the right time. 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.”

Only one month ago Ballmer Ballmer led a massive reorganisation of the company in a bid to bring all the divisions under one unified vision. Microsoft has said that a special committee has been appointed to oversee the process of hunting for Ballmer’s replacement.

How do you think a change in CEO will affect Microsoft? Tell us your comments below.

[Image via digitaltrends]

SOURCE: http://mashable.com/2013/08/23/steve-ballmer-to-retire/