Microsoft CEO Ballmer to Retire Within Next 12 Months

Microsoft Corp. Chief Executive Officer Steve Ballmer, who has struggled to adapt the world’s largest software maker to the shift away from personal computers and toward mobile devices, will retire after more than a decade at the helm.

Ballmer, 57, plans to step down within 12 months, Redmond, Washington-based Microsoft said today in a statement. The company’s lead independent director, John Thompson, will oversee the search for his successor, heading a committee that will also include Microsoft co-founder Bill Gates. Investors applauded the move, sending the shares up the most since 2009.