James Delahunty
2 Oct 2013 19:57
According to a report, a small group of Microsoft investors are lobbying the Microsoft board to push Bill Gates out as chairman of the Redmond-based software giant.
Gates co-founded Microsoft 38 years ago and has been one of the biggest names in technology ever since. The success of Microsoft's products has made him one of the wealthiest individuals in the world, allowing him to focus primarily on philanthropic efforts after stepping down as Microsoft chief executive.
While he is still a popular figure at Microsoft, Reuters is citing sources familiar with a move at Microsoft by three of its top investors to have him step down as chairman. The investors, and the sources, remain unnamed.
Their argument is that the presence of Bill Gates as chairman will make it extremely difficult for a new chief executive to take the company in a new direction. Steve Ballmer is set to leave Microsoft very soon, though the board has insisted that his strategy will remain on course.
Gates owns roughly 4.5 percent of Microsoft, making him still the largest individual shareholder. He has been selling around 80 million shares of Microsoft per year under a pre-set plan, which if left continue will deplete his stake in Microsoft by 2018.