Steve Ballmer resigns from Microsoft's Board of Directors
Citing a "multitude of new commitments," Steve Ballmer has announced he will step down from Microsoft's Board of Directors, effective immediately.
Ballmer announced his plan for retirement from his role as Microsoft's Chief Executive Officer back in August 2013, but stayed with the company until they found a suitable replacement. His main affiliation with Microsoft after the company named Satya Nadella the new Chief Executive Officer was as a member of the Board. However, a combination of new responsibilities, including his ownership of the Los Angeles Clippers, have made him too busy to serve.
"In the six months since leaving, I have become very busy. I see a combination of the Clippers, civic contribution, teaching and study taking a lot of time," Ballmer said in a letter to Microsoft's current CEO Satya Nadella. Ballmer noted that he still holds more Microsoft shares than anyone other than index funds, adding that he "expect[s] to continue holding that position for the foreseeable future."
Unfortunately, his new commitments require his immediate attention.
This type of excitement requires 100% commitment.
"Given my confidence and the multitude of new commitments I am taking on now, I think it would be impractical for me to continue to serve on the board, and it is best for me to move off. The fall will be hectic between teaching a new class and the start of the NBA season so my departure from the board is effective immediately," Ballmer added.
"I bleed Microsoft — have for 34 years and I always will. I continue to love discussing the company’s future. I love trying new products and sending feedback. I love reading about what is going on at the company. Count on me to keep ideas and inputs flowing. The company will move to higher heights. I will be proud, and I will benefit through my share ownership. I promise to support and encourage boldness by management in my role as a shareholder in any way I can."
In his response, Satya Nadella thanked Steve Ballmer for his support, wishing him "incredible success" in his new endeavors.