Microsoft CEO Steve Ballmer Plans to Retire Within 12 Months

Posted on August 24, 2013

Microsoft Corp. announced that Chief Executive Officer Steve Ballmer has decided to retire as CEO within the next 12 months. He will retire upon the completion of a process to choose his successor. The Board of Directors appointed a special committee to direct the process. This committee is chaired by John Thompson, the board's lead independent director, and includes Chairman of the Board Bill Gates, Chairman of the Audit Committee Chuck Noski and Chairman of the Compensation Committee Steve Luczo.

Ballmer said in a statement, "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."

Ballmer, 57, has been running the company for 13 years. Take a look: