David Einhorn critizes Microsoft CEO for poor stock performances, calls for his head.
In a statement that could most likely enrage Steve Ballmer to once again resort to his chair-throwing antics, David Einhorn, a popular hedge fund manager, has openly criticized the Microsoft CEO for the company’s years of stagnant stock values.
Einhorn believes that it is time for Steve Ballmer to step down and “give someone else a chance”, saying that “his continued presence is the biggest overhang on Microsoft’s stock.” Steve Ballmer took over the ship after Bill Gates unannounced retirement in 2000. Einhorn’s company, Greenlight Captial, holds around 9 million Microsoft shares, or 0.11 percent of the entire company.
On Tuesday, IBM for the first time in 15 years over took Microsoft in market value after the Redmodians continued their static stock performance. Apple too had swept past Microsoft to become the world’s most valuable tech company last year. Microsoft is now seen as a company who is playing catch up to the rest of the market who has outsmarted them across all frontiers.
Steve Ballmer has shown no signs of giving up the prestigious chair, however, repeated calls from shareholders might see him in a tight spot. Recently, Steve Ballmer was rated as the worst CEO by his own employees in an industry round-up survey.