Microsoft's Steve Ballmer to Retire Within a Year

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Aug. 26 (Bloomberg) –- Bloomberg's David Ingles reports on the news that Microsoft's Steve Ballmer is going to retire after spending more than 20 years at the company. He speaks with Rishaad Salamat on Bloomberg Television's "On The Move Asia." (Source: Bloomberg)

Let's talk about this.

A big announcement coming from iker soft over the weekend, steve ballmer announcing he is stepping down after spending more than 20 years at the company.

David is here with the details.

Not exactly a vote of confidence when you announce your retirement and the stock price goes to the roof.

He gets richer because of his options naturally.

We will get to that later on, how much richer.

It really tells you about the career as ceo.

He spent close to 30 years with the firm.

He was star salesman.

He nature 97% of the worlds computers used company.

-- he major 97% of the worlds computers use the company.

He seemed under much criticism since 2000. it is a household name.

Windows is one of the most valuable brands.

The company hasn't really kept pace with changes in the industry.

His tenure was marked by missed opportunities, like smartphones, web search, tablet computing.

They do have a presence in most of these new areas of tech, internet 2.0, and obviously this is a person who has been at the firm for a very long time.

He was really dedicated to the company.

To give you an idea of how passionate the guy was -- developers, developers, developers, developers!

Developers, developers, developers, developers!

[applause] yes!

A management professor at m.i.t. described him as more of a caretaker ceo rather than a visionary leader.

Well, let's talk about the share price again.

Let's get back to that, and we see that bounce up.

7% after the announcement.

What is ironic is it actually made him three quarters of $1 billion richer on paper.

Because of that, he is retiring with some sort of financial stability.

He is worth close to $17 billion.

The 44th richest person in the world.

At the bigger question is, will this exit actually get someone in place to turn the company around and make it more flexible?

If you have invested money, you are about 13% poorer at this point.

Not exactly unbridled optimism for microsoft.

David, thank you much.

This text has been automatically generated. It may not be 100% accurate.

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