Microsoft announced today that Steve Ballmer will be retiring from his position as the company's Chief Executive Officer. Ballmer will be stepping down sometime in the next 12 months, but will remain onboard until the company's board names a formal replacement. In an issued statement, Ballmer highlights the company's recent restructuring as the "perfect time" for his retirement.
"We have embarked on a new strategy with a new organization and we have an amazing Senior Leadership Team," Ballmer said. "My original thoughts on timing would have had my retirement happen in the middle of our company's transformation to a devices and services company. We need a CEO who will be here longer term for this new direction."
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