Microsoft investors push for Bill Gates to step down
The investors are concerned that Gates’ role as chairman could block new strategies
Three of the top 20 investors in Microsoft are lobbying the board to press for Bill Gates to step down as chairman of the software company he co-founded 38 years ago, according to people familiar with matter.
While Microsoft Chief Executive Steve Ballmer has been under pressure for years to improve the company’s performance and share price, this appears to be the first time that major shareholders are taking aim at Gates, who remains one of the most respected and influential figures in technology.
A representative for Microsoft declined to comment on Tuesday.
There is no indication that Microsoft’s board would heed the wishes of the three investors, who collectively hold more than 5 per cent of the company’s stock, according to the sources. They requested the identity of the investors be kept anonymous because the discussions were private.
Replacing the old guard with some fresh eyes can provide the oxygen needed to properly evaluate their corporate strategy
Gates owns about 4.5 per cent of the $277 billion company and is its largest individual shareholder.