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Some Microsoft shareholders think that Bill Gates needs to step down

Three major Microsoft shareholders want Bill Gates to leave board of directors, says he will stifle new innovation next CEO may bring (NASDAQ:MSFT)

| Business, Financial & Legal News | Posted: Oct 2, 2013 1:00 pm

A new report from Reuters says that three of Microsoft's biggest shareholders think that the company's founder, Bill Gates, should step down from his seat on the board of directors. The shareholders suggest that Gates may prevent current CEO, Steve Ballmer's, replacement from bringing forth new innovation to the company.

 

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The report from Reuters reads:

 

The three investors are concerned that Gates' presence on the board effectively blocks the adoption of new strategies and would limit the power of a new chief executive to make substantial changes. In particular, they point to Gates' role on the special committee searching for Ballmer's successor.

 

They are also worried that Gates - who spends most of his time on his philanthropic foundation - wields power out of proportion to his declining shareholding.

 

While it is a bit of a stretch, many think that Ballmer was chosen as CEO because he was good friends with Gates, and that Gates could keep control of the company through Ballmer. Personally, I think that Gates has a right to sit on the board, and it is his duty to continue to advise the direction of the company he founded so many years ago.

NEWS SOURCES:Theverge.com

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