Steve Ballmer will retire from his role as Microsoft CEO within the next 12 months, Microsoft announced on Friday. Ballmer will remain at the helm until a successor is chosen.
Ballmer will remain as CEO until the board of directors chooses someone to succeed him.
"There is never a perfect time for this type of transition, but now is the right time," Ballmer said in a statement. "We have embarked on a new strategy with a new organization and we have an amazing Senior Leadership Team. My original thoughts on timing would have had my retirement happen in the middle of our company's transformation to a devices and services company. We need a CEO who will be here longer term for this new direction."
Microsoft's board has set up a special committee to pick the company's next CEO. Chaired by Bill Gates and other members of the board, the committee is working with an executive recruting firm and said it will look at both internal and external candidates for the role.
