Bill Gates and team begin 12 month search for successor.
Microsoft CEO Steve Ballmer is set to step down as head of the software giant within the next 12 months as the company begins to search for a replacement.
During this process Ballmer will continue on as CEO at Microsoft, while a special committee that includes company founder and former CEO Bill Gates will vet potential candidates.
“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.”
Chairman of the board Gates explained that he would be working closely with other committee members to find the best successor.
“We’re fortunate to have Steve in his role until the new CEO assumes these duties,” Gates added.
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