News: Gates, Ballmer seek re-election to Microsoft board

C-Suite

Gates, Ballmer seek re-election to Microsoft board

According to an Economic Times report, Chairman Bill Gates and retiring Chief Executive Steve Ballmer are standing for re-election to Microsoft Corp's board of directors, according to the company's annual proxy filing made public on Thursday.

According to an Economic Times report, Chairman Bill Gates and retiring Chief Executive Steve Ballmer are standing for re-election to Microsoft Corp's board of directors, according to the company's annual proxy filing made public on Thursday.

Ballmer and Gates, both 57, have been the target of activist investors over the past few months who believe the software maker needs new leadership to compete with mobile-savvy rivals such as Apple Inc and Google Inc. However, the reports added that it is highly likely for Ballmer and Gates to retain their positions.

Ballmer is set to stay on as CEO until a successor is appointed, but Microsoft has not said whether Ballmer will remain a board director after that. Whether on the board or not, Ballmer made it clear last month in a meeting with Wall Street analysts that he plans to remain engaged as a major investor.

According to the proxy filing, Gates remains the company's largest individual shareholder, with a 4.5 per cent stake, followed by Ballmer with 4 percent

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Topics: C-Suite, Strategic HR, #Updates, #Corporate

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