In a startling and unexpected announcement, Microsoft revealed that CEO Steve Ballmer would retire sometime in the next 12 months. During the intervening time, the company will begin a search for his successor.
“There is never a perfect time for this type of transition, but now is the right time,” Mr. Ballmer said in a prepared statement. “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.”