Report: Microsoft investors want Gates out as chairman
2013-10-02 10:14 by DanielaTags: Microsoft
According to recent reports, three of the top 20 investors in Microsoft want Bill Gates to step down as chairman of the software company he co-founded 38 years ago, because they feel his presence hinders innovation. They are also concerned about Gates' placement on a committee searching for a replacement for outgoing CEO Steve Ballmer.
No information was provided about these investors, except that combined they represent 5-percent of Microsoft's stock while Gates owns about 4.5% of the $277bn company and is its largest individual shareholder. However, there is a system in place that sees him sell shares every year. He is expected to sell all of his Microsoft shares by 2018.
Gates lowered his profile at Microsoft after he handed the CEO role to Ballmer in 2000, giving up his day-to-day work there in 2008 to focus on the $38 billion Bill & Melinda Gates Foundation.
Microsoft isn't commenting on the reports. There's no indication that Gates would actually step down.
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