Hedge fund star calls for Microsoft’s Ballmer to go
Influential hedge fund manager David Einhorn has called for Microsoft Corp Chief Executive Steve Ballmer to step down, saying the world’s largest software company’s long-time leader is stuck in the past.
Microsoft, which was the largest U.S. company by market value in the late 1990s, has seen its stock stand still for the past 10 years as it failed to attack new Internet and mobile computing markets, surrendering leadership of the tech sector to Apple Inc.
Microsoft shares shot up 0.87 percent in after-hours trading, the most of any Dow Jones industrial average component.
Many have been privately critical of Ballmer, but Einhorn’s remarks are the most pointed yet from a high-profile investor.
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