Former Microsoft Corporation (NASDAQ:MSFT) CEO, Steve Ballmer, has stepped down from the company’s board after successfully acquiring the Los Angeles Clippers, completely ending his association with the giant software company in terms of management. Six Months after stepping down from the CEO post, Mr. Ballmer stated it was high time for him to focus on his new $2 billion acquisition. UBS’s Brent Thrill in a phone interview on Bloomberg said that it was high time for Ballmer to give full reign to CEO Satya Nadella and CFO Amy Hood taking into consideration the fact that the company’s stock has surged 39% since stepping down.
“Well, since he left CEO stock has gone up 39%, so I think clearly’ Steve had a great contribution to the company, but to be fair Wall Street wanted him to leave, and I think that has been clearly voted on the stock. I think you know that Nadella and Amy Hood have taken control. Wall Street really likes this co-pilots, and if I want to fly in a large cap technology plane, I want Nadella and Amy Hood Driving this,” said Mr. Thrill.
Microsoft Corporation (NASDAQ:MSFT) remains in safe hands despite the departure of Ballmer according to Mr. Thrill considering Nadella is a talented engineer with a clear understanding of the company’s culture having risen above the ranks over the years. Amy Hood, on the other hand, is highly experienced in expense management sufficient enough to set the company on the road map in terms of cost controls.
Mr. Thrill also stated that the company could introduce massive buybacks now that it is under new leadership. Ballmer leaves Microsoft Corporation (NASDAQ:MSFT) with a 4% stake in the company valued at $15 billion, awaiting to see if he might opt to sell his stake in the company. The resignation of Ballmer essentially paves the way for Nadella to install his authority in the company. Mr. Thrill added that Microsoft is now destined to tighten up things in terms of expenses under the leadership of Amy Hood as CFO.