Three out of the top 20 investors of Microsoft want Bill Gates to step down as chairman. These investors believe that he is preventing the company from adopting new strategies and may limit the new chief executive to making significant changes.
According to sources of Reuters, who wished to be kept confidential, these three investors hold over five percent of the company shares. The discussions have been going on in private as they are pressuring the boards to decide to let go of Bill Gates after Steve Ballmer. They would also want Gates to be out of the committee screening candidates for the chief executive position.
Bill Gates co-founded Microsoft, still the world’s largest PC software company, along with Paul Allen about 38 years ago. He served as chief executive through January 2000 before he was replaced by Steve Ballmer. Gates then assumed the chairman role and chief software architect in the company. The investors believe that he was a great chief executive but not as efficient for his new role.
Reuters asked for comments from a Microsoft representative but was declined.
Gates own almost half of the company shares and investors were concerned that he was not that bothered about the declining value of the company in terms of stocks. He is more focused on the foundation he built with his wife called Bill & Melinda Gates Foundation.
Meanwhile, other investors who have heard of the other investors call expressed different opinions. Some agreed that it is about time that Bill Gates steps down and let others take care of the business.
"This is long overdue," said Todd Lowenstein, a portfolio manager at HighMark Capital Management, which owns Microsoft shares told Reuters. "Replacing the old guard with some fresh eyes can provide the oxygen needed to properly evaluate their corporate strategy."
