Earlier this morning, Steve Ballmer announced that he would be retiring from Microsoft and that the search for a new CEO is now underway. When the head of a major corporation decides that their time at the top of the org chart is up, it’s always quite interesting to see how the stock price moves as this will be a sign of how investors truly felt about the leader.
After the announcement at approximately 9:25am, Microsoft’s share price surged by 9%. This is clearly a sign that investors are happy about the news and likely feel that a new leader will help Microsoft navigate the changing marketplace that Microsoft is now fording.
The search for a new CEO will be watched closely by Microsoft fans and investors as, no matter your opinion of Ballmer, the CEO position at Microsoft has some seriously large shoes to fill. With a highly competitive marketplace and new competitors entering the market, any major slipup could spell disaster for the company.
All eyes will be on Microsoft as the hunt gets underway and the company chooses an individual to lead one of the most influential companies in the world.
Image Credit: Yahoo Finance