Like The Herald Business Journal on Facebook!
The Herald of Everett, Washington
Heraldnet.com

The top local business stories in your email

Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Jody Knoblich
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
jknoblich@heraldnet.com

Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

Gates to devote rest of life to full-time philanthropy

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
Bloomberg News
Published:
SEATTLE - Microsoft’s Bill Gates will work on philanthropy full time for the rest of his life and contribute part time as a board member of the software maker, which is seeking a new chief executive officer.
Gates, speaking in an interview on Bloomberg Television, didn’t indicate whether Microsoft’s board was closer to choosing a replacement for CEO Steve Ballmer, who is retiring this year.
The board began its search after Ballmer, CEO since 2000, said in August that he planned to retire from the company within 12 months. Gates has emphasized the need to find a CEO with “the ability to lead a highly technical organization and work with top technical talent.” Lead independent director John Thompson, who is heading the search committee, has said the board plans to make its decision in the “early part of 2014.”
“The board is doing important work right now,” said Gates, who created the Bill & Melinda Gates Foundation with his wife in 2000. “The foundation is the biggest part of my time. I put in part-time work to help as a board member. My full-time work will be the foundation for the rest of my life. I will not change that.”
The board is considering Ericsson AB CEO Hans Vestberg and other outsiders, and internal candidates Microsoft cloud- computing chief Satya Nadella and former Nokia Oyj CEO Stephen Elop, people with knowledge of the search have said. The board hasn’t yet reached a decision and who is under consideration is still subject to change.
Any new CEO will have to turn around Microsoft, whose main software business is struggling. At the same time, the Redmond, Wash.-based company has made limited headway in fast- growing markets such as smartphones and tablets. Gates and Ballmer, who together hold about 8 percent of the stock, are also on the board. Their presence has deterred some candidates, raising concern that a new CEO might lack independence in the role, said people familiar with some of the candidates’ thinking.
Gates’s comments address that concern, according to Steve Ashley, a software analyst at Robert W. Baird & Co.
“One of the things that had been talked about was, would you feel his breath on your neck - how much freedom would the new CEO have?” Ashley said.
Some CEO candidates have said no or dropped out of the running, people with knowledge of the search have said. Ford CEO Alan Mulally, 68, who had been under consideration for the Microsoft job, said this month that he plans to stay at the automaker. Mulally’s candidacy for Microsoft CEO had faded amid questions about his age and lack of technology experience, people with knowledge of the search have said.

MORE HBJ HEADLINES

CALENDAR

Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus