Investor David Einhorn stirred up a hornet’s nest earlier this week when the hedge fund manager reportedly said that Microsoft CEO Steve Ballmer was the biggest drag on the company’s stock. Now, Reuters reports that Microsoft’s board, including Chairman Bill Gates, continues to support the energetic CEO.
In addition to Gates and Ballmer, Microsoft’s board includes seven other members: Dina Dublon; Raymond Gilmartin; Reed Hastings; Maria M. Klawe; David Marquardt; Charles Noski; and Helmut Panke.
Earlier this week, Einhorn said of Ballmer: “His continued presence is the biggest overhang on Microsoft’s stock.”
GeekWire readers have continuously echoed that theme, including one who pointed out another problem if the board were to actually take action. There’s no real “heir apparent” lined up inside of Microsoft to take over if Ballmer were to step down.
Einhorn is a longtime Microsoft shareholder, and a stock analyst tells Reuters that the investor likes to stir things up. Ballmer replaced Gates in 2000, and since then the company has missed significant opportunities in mobile and tablets. Microsoft’s stock price is down 30 percent in the past 10 years.
BGC Partners Colin Gillis tells Reuters that “the question is, is it because of Ballmer, or is it because people are concerned about a post-PC era?”
