Microsoft CEO, Steve Ballmer, is set to retire within 12 months according to Microsoft. An ongoing process is underway to find Mr. Ballmer’s replacement. As Mr. Ballmer himself said,

There is never a perfect time for this type of transition, but now is the right time. We have embarked on a new strategy with a new organization and we have an amazing Senior Leadership Team. My original thoughts on timing would have had my retirement happen in the middle of our company’s transformation to a devices and services company. We need a CEO who will be here longer term for this new direction.

Mr. Ballmer was the first business manager hired by Bill Gates in 1980. He was named CEO in 2000 and helped guide the Xbox division into relevancy.