Boston, MA 10/11/2013 (wallstreetpr) – As per the source familiar with the matter, Microsoft Corporation (NASDAQ:MSFT)’s board is in the process of deciding on its new successor to replace Chief Executive Officer Steve Ballmer, by the end of the year. In its 38 year old history, Microsoft was led by only two CEOs i.e. the co-founder Bill Gates and Steve Ballmer. In August, Ballmer, who has been on the board since 2000, had expressed his plans to retire within this year.
As per the Bloomberg reports, the panel is filtering its choices amongst initial discussions. Some candidates, such as EBay Inc. (EBAY) CEO David Donahoe havedeclined to be considered. The panel has also sought advice from Charles Giancarlo, a former ‘Cisco’ Systems Inc.’s executive and now Managing Director of Silver Lake. Among the list of candidates with whom the Microsoft board is under discussion includes AlanMulally, CEO of Ford Motor Co. (F) and Stephen Elop, CEO of former Nokia Oyi (NOK1V), are among the candidate with whom the board is under discussion. Stephen Elop of Nokia willjoin Microsoft after its $7.2 billion deal of Nokia’s Windows deal closes. The appointment of the new CEO largely depends on the compensation and on transition time by an external candidate from the current company.
Industry analysts have insisted Microsoft to choose an external candidate as their new CEO amid concerns that an in-house contender could follow Ballmer’s way of running the company, which consistently lacked motivation. These fears are based on the facts that under the Ballmer’s leadership, efforts faltered to move forward and to emerge out of the weaknesses in mobiles or to contain losses on the projects like Bing. As the Reuters news suggests, several Microsoft investors, who are in control of 5% of the company demanded the board to replace Gates as a chairman. They are of a view that with Gates functioning as chairman it would be futile to bring in a CEO with an innovative approach to the company’s strategy and reorganization.
Microsoft’s forthcoming shareholders meeting would be an ideal platform to declare the new CEO, if one comes on board by then
