While not earth shattering, Microsoft revealed that its CEO, Steve Ballmer, will retire in the next 12 month. No successor has been named to succeed him in the role. Many have believed that Microsoft has needed new leadership to compete in a more mobile marketplace. While its Office software and operating system dominate the business world, consumers have moved to more free-based software from Google and others. PC sales have also been declining and Microsoft has not been able to break through the tablet or smartphone world with a winning product. Its biggest success continues to be XBox and it is looking forward to higher revenues from the release of its newest platform.
So how will the stock market react later today to this news? Hopefully NASDAQ opens today without a hitch and I suspect analysts will see more positives out of this long term transition. There is plenty of time to announce a successor. And time will tell if the next CEO can best steer Microsoft to new highs.
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