In a surprise development Microsoft Corporation (NASDAQ:MSFT) announced today that its former CEO, Steve Ballmer has resigned from the Board. Microsoft Corporation (NASDAQ:MSFT) published the resignation letter from Ballmer addressed to Satya Nadella and Nadella’s response to it, on its News Center page.
Ballmer mentioned in the letter sent to Satya Nadella, the company’s CEO, that he has been very busy since his retirement due to study, teaching assignments and civic contributions. Along with ‘teaching a new class’ he cites start of the new NBA season as one of the prime reasons for him leaving the Board (Ballmer has recently acquired NBA team Los Angeles Clippers). The most important aspect of the letter is Ballmer mentions the fact that he is Microsoft Corporation (NASDAQ:MSFT)’s largest shareholder after index funds and he will continue holding that position in the ‘foreseeable’ future.
Nadella responded saying that Ballmer’s ‘insights’ would be missed at Microsoft Corporation (NASDAQ:MSFT) and wished him incredible success in his future endeavors.