“Microsoft Corp’s board stood behind Chief Executive Officer Steve Ballmer on Thursday, defending its longtime leader after influential hedge fund manager David Einhorn touched off a debate by calling for his dismissal,” Bill Rigby reports for Reuters.
“The fund manager, who made his name warning about Lehman Brothers Holdings Inc’s financial health before the investment bank’s collapse, accused Ballmer on Wednesday evening of being stuck in the past, launching the sharpest attack yet by a high-profile investor against the company’s leadership,” Rigby reports. “Microsoft’s nine-person board, including Chairman and co-founder Bill Gates, supports Ballmer, a source close to the board told Reuters on Thursday.”
Rigby reports, “Gates, who co-founded the software company in 1975 and is still the largest shareholder with 6.6 percent of the company’s stock, is generally regarded as the one person who could make the decision to switch management… Gates, who spends most of his time on his philanthropic foundation, has given no indication he is considering a change.”
Read more in the full article here.
MacDailyNews Take: That’s right. Everything’s just fine. Nothing to see here. Go on about your business. Ballmer’s doing an excellent job. We like his strategy. We like it a lot!
Of course, any board would say the exact same thing the very second before they shitcan their CEO, so take this “board backs Ballmer” news for what it’s worth.
[Thanks to MacDailyNews Reader “Jai G.” for the heads up.]