“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.]
I am thrilled that Ballmer stays at Microsoft… and Apple loves it.
Please tell his board members to keep him as long as it takes!
Looking at the keystone cops that make up the Microsoft board, is anyone really surprised?
http://themacadvocate.com/2010/12/21/microsofts-leadership-a-whos-that-of-corporate-titans/
It’s not that the board of directors thinks Ballmer has increased shareholder value; he hasn’t. It’s just that they know Ballmer sucks less than any available alternative right now.
MDN, you missed a golden opportunity here. You should replace this story’s long-winded Take with one short line:
For as long as it takes!
This is not the inept, crass dingbat car-crash CEO that you’re looking for
Ah, the power of Jedi mind-tricks on the weak.
After a long hard day I skinned through MDNs headlines, and I seriously thought I read “Microsoft board sacks Ballmer”. Reality dawned seconds later after I clicked the link; it was ‘backs”, not “sacks”.
BWAHAHAHA! Good little board of directors, doing just as I told you to do.
At the snap of my fingers you will awaken and everything will be all rosy and peachy keen at Microsoft, just as always. 😈