Selection committee formed to locate successor.
Ballmer revealed in a statement that, “There is never a perfect time for this type of transition, but now is the right time. My original thoughts on timing would have had my retirement happen in the middle of our transformation to a devices and services company focused on empowering customers in the activities they value most. We need a CEO who will be here longer term for this new direction.
“I will retire as CEO of Microsoft within the next 12 months, after a successor is chosen. There is never a perfect time for this type of transition, but now is the right time.
A special committee, working with Heidrick & Struggles International Inc., and which includes lead independent director John Thompson, chairman of the board Bill Gates, chairman of the Audit Committee Chuck Noski and chairman of the Compensation Committee Steve Luczo has been formed for the selection process.
Gates, who founded the company 38 years ago along with Paul Allen, stated that, “As a member of the succession planning committee, I’ll work closely with the other members of the board to identify a great new CEO. We’re fortunate to have Steve in his role until the new CEO assumes these duties.”
One wonders how this will affect the future of Xbox and Windows, two aspects in which Ballmer has been incredibly involved with driving the direction of.