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Lone voice calls for Ballmer to step down

Hedge fund manager David Einhorn says Microsoft CEO is stuck in the past

Lone voice calls for Ballmer to step down
David Einhorn, a hedge fund manager at Greenlight Capital has called for Microsoft CEO Steve Ballmer to step down.

An influential hedge fund manager has called on Microsoft CEO Steve Ballmer to step down, accusing him of being "stuck in the past", according to Reuters.

David Einhorn from Greenlight Capital hedge fund told audiences at the annual Ira Sohn Investment Research Conference in New York on Wednesday, that it was time for Ballmer to step down and "give someone else a chance".

"His continued presence is the biggest overhang on Microsoft's stock," said Einhorn, talking about Ballmer.

Einhorn made his name warning about Lehman Brothers' financial health before the investment bank's collapse.

After Einhorn's comments, Microsoft shares, which have been static for over ten years, gained 0.87% in after-hours trading.

Microsoft was the largest US company by market value in the late 1990s, but has fallen behind both Apple Inc and IBM in market value, and is no longer seen as a dominating force in technology.

Microsoft has failed to capitalise on new internet and mobile computing markets. Microsoft stock has fallen 6% in the last two weeks after the company agreed to pay out $8.5bn for Skype.

A Microsoft spokesman declined comment on Einhorn's remarks.

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