Time for Bill Gates to go, some Microsoft investors tell board

Three of the top 20 investors in Microsoft Corp are lobbying the board to press for Bill Gates to step down as chairman of Microsoft, says a Reuters report. However, it also added that there is no indication that Microsoft's board would heed the wishes of the three investors, who collectively hold more than 5 percent of the company's stock. Gates lowered his profile at Microsoft after he handed the CEO role to Ballmer in 2000, giving up his day-to-day work there in 2008 to focus on the $38 billion Bill & Melinda Gates Foundation.

This report, published in The Economic Times, adds that in August, Ballmer said he would retire within 12 months, amid pressure from activist fund manager ValueAct Capital Management. Microsoft is now looking for a new CEO, though its board has said Ballmer's strategy will go forward.

Read the complete report here