ormer Microsoft CEO Steve Ballmer is stepping down from the company’s board, closing a chapter on 34 years with the software giant.
Ballmer says he plans to devote more time to his ownership of the Los Angeles Clippers, civic contributions, study and teaching business at Stanford in the fall and USC next spring.
Microsoft Corp. published Ballmer’s resignation letter on its website Tuesday along with a response from current CEO Satya Nadella thanking him and wishing him well.
The 58-year-old says he plans to hold on to his Microsoft stock and will continue to offer feedback on products and strategy. With 333.3 million shares worth $15 billion, Ballmer’s 4 percent stake in the company makes him the largest individual shareholder. A few institutional investors hold slightly more.
Read more: Herald-Standard