Microsoft CFO Peter Klein to depart in June

Microsoft will be losing one of its major executives in the near future. As part of Microsoft's latest financial news press release, the company announced that its chief financial officer Peter Klein will leave the company at the end of its fiscal year in June.

Klein first started work at Microsoft in 2002 after previously working in corporate finance for a number of companies in the Seattle area. While at Microsoft, he served as the CFO for the company's Server and Tools division and later was the corporate vice president and CFO of Microsoft's Business division. He took over as CFO of the entire company in 2009.

In today's press release, Microsoft said they would name Klein's replacement in the next several weeks and that the new CFO will come from inside Microsoft. Klein is quoted as saying, "I've had a great experience as CFO and overall in my time at Microsoft. We have an incredibly strong finance organization, and I’m looking forward to working with my successor on the transition through the end of the fiscal year.”

Microsoft CEO Steve Ballmer is quoted as saying, "It has been a pleasure to work with Peter as CFO. He’s been a key member of my leadership team and a strategic advisor to me, and I wish him the very best." There is no word on what Klein has in mind for his future plans.

Source: Microsoft | Image via Microsoft

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20 Comments

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probably got a better money offer elsewhere. According to forbes,in 2011 his salary was $500K and with stocks and bonuses he made total $3.5 million.

vcfan said,
.....

Yes. This is why I respect MS over other companies that pay their executives over inflated salaries regardless of performance.

Ballmer's base salary is still $500k / year plus bonuses if he meets objectives.

Why can't people see this is the way to run a business.....

deadonthefloor said,

Ballmer's base salary is still $500k / year plus bonuses if he meets objectives.

Ballmer was an early employee, and holds a lot of Microsoft stock. In fact, with Bill Gates selling at a constant rate, Ballmer may become the largest holder of Microsoft stock in a couple more years.

It's sort of like how Warren Buffett takes a measly $100,000 salary at Berkshire Hathaway. He owns so much stock that he doesn't really need a salary.

neufuse said,
I love how the Apple loving media is reporting this MSNBC "Microsoft CFO exits after Windows 8 tepidly received" FOX "Microsoft CFO out as Windows 8 flops"

heck another MSNBC article even tries to tie them http://www.nbcnews.com/busines...ings-expectations-1C9512386

Yet the Windows division saw 23% YOY growth. If all they're doing is comparing it to the prior quarter which has the holiday season in it then of course it would be little changed, this applies to every company.

neufuse said,
I love how the Apple loving media is reporting this MSNBC "Microsoft CFO exits after Windows 8 tepidly received" FOX "Microsoft CFO out as Windows 8 flops"

heck another MSNBC article even tries to tie them http://www.nbcnews.com/busines...ings-expectations-1C9512386

I'm sure the chief FIANCIAL officer had a ton to do with windows 8 right?.... *rolls eyes*

The funny part is that - at least originally - MSNBC stood for Microsoft NBC

THolman said,

The funny part is that - at least originally - MSNBC stood for Microsoft NBC

Still does. It's only the web site that changed hands.

neufuse said,
I love how the Apple loving media is reporting this MSNBC "Microsoft CFO exits after Windows 8 tepidly received" FOX "Microsoft CFO out as Windows 8 flops"

heck another MSNBC article even tries to tie them http://www.nbcnews.com/busines...ings-expectations-1C9512386

I'm sure the chief FIANCIAL officer had a ton to do with windows 8 right?.... *rolls eyes*

By years end there will be way more Win8 users than OSX so not to worry.

lctb51 said,
What was the 'reason' for his departure?

He had been there 11 years, some people just decide to leave after a while for something new.

Oh, and here is your daily reminder that I am "stalking" you since replying to you equates to stalking.

lctb51 said,
What was the 'reason' for his departure?

The answer you are looking for? He was fired because Windows 8 IS TEH FLOPP!

/s

because an accountant was going to take over the management and leadership of a multi billion dollar corporation. sometimes you gotta shake your head.

Perhaps you forgot how Ballmer started out. Did anyone believe back then Ballmer will become the CEO of Microsoft...and to make Klein an "accountant" is a little discrediting I think.

cetla said,
It looks like Ballmer is really getting rid of all possible candidates to succeed him...

With all due respect to Klein, I don't think he was ever a candidate to replace Ballmer (nor do I think he would have been in the future). Normally someone with a role in product development or business is named CEO of a major technology company.

cetla said,
Perhaps you forgot how Ballmer started out. Did anyone believe back then Ballmer will become the CEO of Microsoft...and to make Klein an "accountant" is a little discrediting I think.

Ballmer was a Microsoft employee from the start. I'd rather see him there than most of the other founders. *gestures at Paul Allen*