A top hedge fund has called for the shy and retiring Microsoft CEO, Steve “There’s a kind of hush” Ballmer to leave the firm.
David Einhorn has called for Microsoft chief executive Ballmer to go, saying Steve is stuck in the past.
Last year, the board docked Ballmer’s pay for falling short in pushing Vole into the mobile industry and developing new forms of computers.
Einhorn’s Greenlight Capital hedge fund has been buying up Microsoft stock, which many consider undervalued.
Greenlight owns 9 million shares in Microsoft, or 0.11 percent of the company’s outstanding shares.
But chatting to the Ira Sohn Investment Research Conference in New York, Einhorn said it was time for Ballmer to clean out his desk and “give someone else a chance”.
AP quoted him as saying that Ballmer was the biggest overhang on Microsoft’s stock.
Einhorn pointed out that an investor who put $100,000 into Microsoft stock 10 years ago would now have about $69,000. We would have thought such an investor would be better off sticking it on a horse.
It is the first time that one of Voles investors has publicly called for Ballmer’s scalp.
Many have been moaning privately about how the outfit is stuck in a rut, but few have gone on record.
Perhaps they fear that they will be locked in a room while Ballmer quietly explains his policies to them.