Microsoft CEO Steve Ballmer has announced his intentions to retire within the next 12 months.
Ballmer made his intentions known on August 23, 2013. A search committee headed by Microsoft board member John Thompson is working on finding a successor.
Ballmer is going to remain CEO until his successor is appointed, a company spokesperson confirmed.
“There is never a perfect time for this type of transition, but now is the right time,” Ballmer is quoted as saying in a press release. “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.”
In 2008, Ballmer said publicly that he planned to stay at Microsoft until his youngest son was off to college. That would have kept Ballmer in Redmond until around 2018.