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Microsoft Announces CEO Steve Ballmer To Retire Within 12 Months (MSFT)

Microsoft Announces CEO Steve Ballmer To Retire Within 12 Months MSFT

In an announcement out of left field Friday morning, tech giant Microsoft (NASDAQ: MSFT) announced that CEO Steve Ballmer would retire within 12 months.

In the press release, it was announced that Ballmer would remain CEO until a successor was named.

"There is never a perfect time for this type of transition, but now is the right time," Ballmer said. "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." Ballmer said.

Following the headline, shares spiked, gaining over eight percent above the $35 level.


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