Microsoft has announced that CEO Steve Ballmer will retire within the next twelve months, retaining his position until a successor is named. Ballmer, 57, has served as chief executive since Bill Gates stepped down in January 2000.
“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.”