Why Microsoft Corporation (MSFT)’s Largest Shareholder and Former CEO Resigns From the Board

Microsoft Corporation (NASDAQ:MSFT) will bid adieu to its former CEO Steve Ballmer from the Company’s Board. Microsoft Corporation (NASDAQ:MSFT) announced this development in a post on its News Center page by publishing Ballmer’s resignation letter addressed to the company’s CEO, Satya Nadella. The post also carried Nadella’s response to the letter.

Ballmer begins the letter by saying that in the last almost six month period that he hasn’t been Microsoft Corporation (NASDAQ:MSFT)’s CEO, he has reflected on his life, his involvement with Microsoft Corporation (NASDAQ:MSFT) and his ownership of the company’s stock. He acknowledges that Microsoft Corporation (NASDAQ:MSFT) has been his life’s work and he is happy with the way the company is progressing, also accepting that though there are challenges ahead, the opportunities outweigh them.

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Ballmer mentions that though software development is still a key skill in the mobile-first, cloud-first world, but to really succeed, a company requires to also move on to other areas like advertising revenues, hardware gross margins and others. He feels that Microsoft Corporation (NASDAQ:MSFT)’s management team has what it takes to make that transition.

Prior to his last day as Microsoft Corporation (NASDAQ:MSFT)’s CEO, Ballmer never contemplated on his ‘post-Microsoft’ life, but he has been very busy once he left. In the future, he sees civic contribution, study, teaching assignments and Clippers [A NBA team he owns], taking up most of his time.

Ballmer has confidence in Microsoft Corporation (NASDAQ:MSFT)’s cloud-first, mobile-first approach and in other business verticals of the company, something for which he cites his shareholding as a testament. Ballmer reveals that he is Microsoft Corporation (NASDAQ:MSFT)’s largest shareholder after index funds and he wishes to continue with that position in the ‘foreseeable’ future.

Nadella in his response thanked Ballmer for his 34 years of service at Microsoft Corporation (NASDAQ:MSFT) and the leadership that he provided the company. He mentions that Ballmer’s ‘insights and leadership’ would be missed at Microsoft Corporation (NASDAQ:MSFT). Nadella also wished Ballmer ‘incredible success’ for his future pursuits from the whole Microsoft Corporation (NASDAQ:MSFT) team.

Disclosure: None

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