Microsoft CFO Liddell jumps ship

48 Hour Apple SaleMicrosoft today announced that Chris Liddell will be leaving the company at the end of 2009, and named Peter Klein as the company’s new chief financial officer.

“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.]

31 Comments

  1. ” 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.

  2. 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.

  3. “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..

  4. “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.

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