Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News | Technology News

 

Bill Gates pressured to step down as Microsoft chairman, says report

Oct 2 2013, 1:13am CDT | by

1 Updates
Bill Gates pressured to step down as Microsoft chairman, says report
Getty Images
 
 

YouTube Videos Comments

Full Story

Bill Gates pressured to step down as Microsoft chairman, says report

It's a familiar story. You work very hard to found a company, then at the height of your reign as its CEO or chairman, the board suddenly decides to fire you. We've seen this incident happen to the late Apple co-founder Steve Jobs. And now we're about to see Bill Gates leave the room as well.

According to Reuters, three among the top 20 investors at Microsoft are pushing Mr. Gates to step down as the company's chairman. Why? Well, the report published by Reuters today said that the three investors are worried that the presence of Bill Gates on the board will "limit the power" of the upcoming CEO to make changes.

Reuters adds that they are also worried that Gates, who owns 4.5 percent of the $227 billion company, will wield "power out of proportion to his declining shareholding." Apparently under a pre-set plan, Bill Gates is selling around 80 million Microsoft shares per year. If this continues up to year 2018, Gates will be left without a financial stake at Microsoft.

A Microsoft spokesperson has declined to comment on the report. The said investors, meanwhile, asked to be treated under the radar as the discussions are private. Of course, before Bill Gates steps down, the board will have to approve the proposal first.

 

You Might Also Like

Updates


Sponsored Update


Advertisement


More From the Web

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/21" rel="author">Gene Ryan Briones</a>
Gene Ryan Briones (Google+) is a technology journalist with a wide experience in writing about the latest trends in the technology industry, ranging from mobile technology, gadgets and robots, as well as computer hardware and software.

 

 

Comments

blog comments powered by Disqus

Latest stories

iLands Game Review
iLands Game Review
The iLands is a creative game app released this year for Android mobile devices and tablets. Thousands of people have already downloaded this game in just a few months. The game is known to get the best of the creative abilities of the player. The game was first released for the Facebook users and later in a few months also got released for the Android devices. Further, the iLands game app is played with great zeal and zest on desktop through Facebook games.
 
 
QuizUp Game Review
QuizUp Game Review
QuizUp app has been proclaimed by some to be the world’s leading trivia game. This commendation is actually valid as it has been ranked to be the best trivia application on the online based store Google Play in 6 countries which include Canada and the United States. If you have an urge to get a little brain power challenge, this is the solution.
 
 
Billy Crystal Will Honor Robin Williams at Emmy Awards Show
Billy Crystal Will Honor Robin Williams at Emmy Awards Show
Crystal will lead a tribute to Robin Williams at Monday's 66th Primetime Emmy Awards .
 
 
Nexercise App Review
Nexercise App Review
Nexercise is a fantastic workout app that can bring your body back into shape or tone it further if you are already having a good body. This useful app is literally for everyone who is a fitness freak. Nexercise appeals most to the people who are busy in their professional life and don’t get time to go to a gym for workout or may be to a work for running. Nexercise absolutely eliminates all these conditions and can make you fit right from your home.
 
 
 

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.