Former Microsoft CEO Steve Ballmer on Tuesday stepped down from his position in the company’s board of directors but pledged to continue offering his valuable input as the firm’s major shareholder.
Ballmer wrote to Microsoft CEO Satya Nadella to inform him about his decision to quit as the company’s board member.
“The fall will be hectic between teaching a new class and the start of the NBA season so my departure from the board is effective immediately,” Balmer wrote in his letter.
“Given my confidence and the multitude of new commitments I am taking on now, I think it would be impractical for me to continue to serve on the board and it is best for me to move off,” Ballmer said in his resignation letter to Nadella.
Responding to Ballmer, Nadella wrote a letter to him saying, “As you embark on your new journey, I am sure that you will bring the same boldness, passion and impact to your new endeavors that you brought to Microsoft, and we wish you incredible success. I also look forward to partnering with you as a shareholder.”
The news comes almost a year after Ballmer announced his plans to step down as Microsoft’s CEO and over six months after Nadella replaced Ballmer for the top post.
Ballmer, however, relaxed his supporters, saying that he will continue to hold his massive stake in Microsoft.
Ballmer’s holding is the largest individual share in Microsoft since co-founder Bill Gates began dissociating from shares to fund his philanthropy.
“I expect to continue holding that position for the foreseeable future,” Ballmer wrote.
“Count on me to keep ideas and inputs flowing. The company will move to higher heights. I will be proud, and I will benefit through my share ownership. I promise to support and encourage boldness by management in my role as a shareholder in any way I can,” he said while biding adieu to Microsoft.
Steve Ballmer, who joined the company in 1980, became the 30th employee of Microsoft. He spent 34 years at Microsoft. According to Forbes magazine, Ballmer was pegged at USD 18 billion.
Ballmer, however, have cited his recent NBA team ‘Los Angeles Clippers’ purchase’, study and teaching as the major reasons behind his decision.
Last week, Ballmer had spent USD 2 billion to acquire the Los Angeles Clippers basketball franchise.
Ballmer, in his letter to Nadella, said that the LA Clippers and teaching will keep him busy.
Certain reports have claimed that Ballmer was considering teaching at the Marshall School of Business of the University of Southern California.