Bill Gates, founder of software giant Microsoft started to face scrutiny from three investors who collectively hold 5% of the company’s stock. The individuals persist on lobbying the board of directors so that Gates will resign as Chairman of Microsoft and assume a lesser role within the company. According to the investors, Gates’ primary focus is on his foundation, which often averts his priorities and commitment towards his team. They believe that him being the largest individual shareholder and owning 4.5% of all shares, puts the company at risk because of his dominating perception.
Microsoft is already searching for new management as Steve Ballmer, current CEO recently announced his retirement. The investors feel as though Gates will pose a threat to the company’s growth as he is very wary about adopting new strategies. They are especially concerned because if chosen by Gates, these same qualities will be apparent in the new chief executive. As of right now there is little indication that the board will take action in regards to the investors concerns because of his sheer power and influence within the company.
Personally, I am a strong supporter of Bill Gates; he is a remarkable man who revolutionized the software industry. He is the reason Microsoft has grown to be one of the leading player in the market, with a net profit of $22 billion within the last fiscal year. Only few people can achieve this magnitude of success and therefore should be valued.
Sources Used:
http://ca.news.yahoo.com/exclusive-microsoft-investors-push-chairman-gates-step-down-004812025.html
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