“Chris and his finance team have accomplished a great deal over the past four and a half years. The team is deep and strong, and has an excellent record of building value for our shareholders,” said Steve Ballmer, Microsoft chief executive officer, in the press release. “Peter brings great finance and operations expertise and a deep understanding of the company, and I am looking forward to a smooth transition that continues our commitment to cost containment and finance excellence.”
Klein, 47, joined Microsoft in February 2002 and currently serves as CFO of Microsoft’s Business Division, overseeing all financial strategy, management and reporting. Previously, Klein served three years as CFO of Microsoft’s Server and Tools Business.
“My time at Microsoft has been an outstanding experience, and I am delighted to be leaving the company in such great shape,” Liddell said in the press release. “We have built a world-class finance team and established strong internal accountability. Microsoft is coming out of the economic downturn with not only great product momentum but also strong discipline around costs and a focus on driving shareholder value.”
Liddell, 51, joined Microsoft in May 2005 after serving as CFO at International Paper Co., and chief executive officer of Carter Holt Harvey Ltd., then New Zealand’s second-largest listed company. He said he is looking at a number of opportunities that will expand his career beyond being a CFO.
Liddell will continue at Microsoft working closely with Klein through Dec. 31, to ensure a smooth transition, according to Microsoft’s press release.
Before joining Microsoft, Klein spent 13 years in corporate finance, primarily in the communications and technology sectors: McCaw Cellular Communications; Orca Bay Capital, a private equity firm; and several startups, including HomeGrocer.com, where as vice president and treasurer he helped lead an IPO and subsequent acquisition by Webvan.
“I’m honored to take on the role of Microsoft CFO. I’ve learned a lot working with Chris, and I’m excited about the opportunities ahead for Microsoft,” said Klein in the press release. “We have an incredible pipeline of products, we have strong financial and operational accountability, and we are well-positioned for growth as the economy recovers.”
Klein holds a bachelor’s degree from Yale University and an MBA from the University of Washington. Outside of work, he is an avid sports fan and serves on the board of NPower Seattle, a nonprofit organization dedicated to enhancing the effectiveness of nonprofit service providers through technology. He and his wife have two sons.
Source: Metoosoft
[Attribution: The New Zealand Herald. Thanks to MacDailyNews Reader “James W.” for the heads up.]
I sense deception captain.
the books are cooked, and balmer wanted them extra well done, Liddell couldn’t take the heat.
” He [Liddell] said he is looking at a number of opportunities that will expand his career beyond being a CFO.”
That makes for a good sound bite, but if Liddell isn’t employed by the 2nd quarter of 2010, then either he was pushed out or he knows that the ship is sinking faster than he is comfortable reporting. We’ll know whether to short MSFT by early next year.
Rats
It’s pretty funny to hear about a guy with like 15 years experience in accounting saying, “Hmm… head beancounter for one of the richest companies on Earth… there’s gotta be more for me out there besides just accounting…”
Dude. You’re an accountant. You can be the CFO for “BangBus Corp” but its still accounting.
“Hmm… head beancounter for one of the richest companies on Earth… there’s gotta be more for me out there besides just accounting…””
—-
Perhaps he is looking to be a CEO instead of CFO..
Perhaps he’s just tired of dodging flying chairs and being treated for the shrapnel wounds when there’s a near miss.
Folks, people change jobs all the time. Does not have to be a huge deal. I wish MDN could stick to apple subjects, there a plenty there.
What no take from Mac Dail;y News on this tidbit? I’m surprised to say the least :-p
“Liddell will continue at Microsoft working closely with Klein through Dec. 31, to ensure a smooth transition, according to Microsoft’s press release.”
Smooth transition my eye! He’s staying for the Holiday parties! That’s all.
Like “occams razor” said – and (appropriately) succinctly, too – “Rats.” Like rats from a sinking ship.
One would have to ask what would be a step “up” after leaving the CFO postition at Microsoft? Either that or Chris is looking at doing something other than accounting ???
Normally people with great skills in their prefered trade are kept on when the goings gets tough since it is their skills which you are expecting will get you out of the tough times. Either that or he is being used as a scape goat to cover up Steve Ballmers failings….?
Liddel is throwing in towel.
Nyuk nyuk nyuk
The towel… the towel… idiot!
Something smells here.
– Liddell is leaving after only 4.5 years in one of the top CFO jobs that exists.
– Liddell is looking at a number of opportunities…
– Only a 1 month overlap to insure a smooth transition. (At the CFO level you might need a bit longer than one month, unless you are just showing the next guy where the coffee and rest room are).
My theory is he either:
1) He didn’t get along with the monkey boy, although it should not have taken 4 years to figure that out.
2) He is being asked to cook the books and after watching the movie “The Smartest Guys in the Room,” decided unemployment was a better choice.
3) He produced the best numbers he could for MS last quarter and he sees nothing but red numbers in the future.
I can’t wait to see MS’s next few quarterly earning statements.
@MIkeK
“Perhaps he is looking to be a CEO instead of CFO..”
Well, if he’s waiting for Monkey Boy Ballmer to be ousted, (thankfully for Apple) I don’t think that’s going to happen. “Denial” is a raging river in Redmond.
“My time at Microsoft has been an outstanding experience, and I am delighted to be leaving the company in such great shape,” Liddell said in the press release.
Define “great shape”, Mr. Liddell. Particularly in light of Microsoft’s first-ever revenue declines, first-ever layoffs, and an inability to provide financial guidance for the last few quarters.
Drenc wig poc adle wyl wæter on croccan do hunig on… Mid þy hunige smire þær hit utslea on þone poc.
@ Gabriel
The “I am delighted to be leaving the company in such great shape” is referring to *Liddell’s* shape, not M$’s. He’s making it out before the dung is far flung by the fan. And he’s understandably ‘delighted’ by doing like such as (as they say in SC). One has to parse any M$ statement with exceeding care… 8^)
Building value for shareholders? Did he somehow offset Ballmer’s incompetence to some measurable degree?
-jcr
He didn’t get along with the monkey boy, although it should not have taken 4 years to figure that out.
Maybe he was waiting for a boatload of options to vest.
-jcr
@Hmm…
You speak Klingon too!!!!
Bro….!
You mean, BELEAGUERED Microsoft?
Let’s discuss the elephant in the room…I’m surprised no one else has pointed out that it’s a little ironic that this new CFO is named Peter…I’m just wondering if this is another attempt by Microsoft to copy the Apple camp…that would explain how and why Steve Ballmer is CEO haha…ironically when you Google him the first hit says “Steve Ballmer is an idiot.”
I hear that his next opponent may be Randy Couture.
Blah-Blah-Blah! Empty official speeches… allways the same old liar stories!