Microsoft Corp., the largest software maker in the world, is said to be looking to the veteran technology executive Thompson as the main outside voice in the companys new leadership structure. John Thompson was appointed as the successor of Bill Gates at the Chairman position.
Microsoft Corp. made an official statement today, saying that Mr. Thompson was the lead independent director, who headed the Board of Directors search for new Chief Executive Officer, which resulted in the appointment of Satya Nadella as a successor of Steve Ballmer. This is considered as the biggest change in the companys history, as Microsoft was headed by the Gates-Ballmer duo for more than thirty years.
John Thompson, known for being the former Chief Executive Officer of Symantec Corp, is stepping in at a time when the company is attempting to self-modify in order to become more competitive to its main rivals Apple Inc. and Google Inc. Microsofts Board now bets on Mr. Thompsons management experience to help improve the companys situation.
James Staten, one of the analysts working for Forrester Research, said in an interview cited by Bloomberg: “Thompson’s going to be a major voice for the company. They wouldn’t have made him chairman, if he didn’t have strong opinions about how to drive the company forward. And Satya is looking for strong partners on the board.”
As reported by Bloomberg, Mr. Thompson said in a video posted by Microsoft Corp. online that he was “looking forward to working closely with Satya and other members of the board. The board is always focused on long-term success of this great company and takes seriously its responsibilities to shareholders to ensure long-term success.”
In times when Microsoft is facing a decreasing interest for its key products, Thompson and Nadella are to command a transition to a new organizational structure and integrate the acquisition of Nokia Oyjs handset unit, which is estimated to 7.2 billion dollars. Microsofts management transition experienced the worst decline on record for PCs in 2013, when the companys shipments decreased 10% and are forecast to deteriorate through 2017.
Microsoft Corp fell by 0.36% on Tuesday to settle the session at $36.35, marking a one-year change of 32.21% on the upside. The 29 analysts offering 12-month price targets for CNNMoney have a median target of $39.00, with a high estimate of $45.00 and a low estimate of $25.00. The median estimate represents a 7.29% increase from the latest closing price.
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