Added by Gary Dunn on November 8, 2010
Steve Ballmer, the Chief Executive of Microsoft Corp, has just sold about 12 per cent of the shares he owned in the company for $1.3bn.
Mr. Ballmer stated that this stock sale is the first he made in 7 years, and underlined that this transaction should not be seen as lack of confidence in Microsoft Corp.
Microsoft is the largest software corporation in the world and chief executive Steve Ballmer still holds about 4.2 per cent of the company shares after the above mentioned stock sale.
The Chief Executive at Microsoft Corp stated that he will share more of his stake by the end of 2010. Rumors say that Ballmer, who has been Microsoft’s CEO even since year 2000, might be planning to exit the company.
Microsoft published Ballmer’s statement on the company website to clear the air: “Even though this is a personal financial matter, I want to be clear about this to avoid any confusion.
I am excited about our new products and the potential for our technology to change people’s lives, and I remain fully committed to Microsoft and its success.”
Ballmer has sold in the last 3 days 49.3m shares he held at Microsoft with a price per share at around $27. The CEO’s intentions are to sell 75m shares by 2011 which would mean a cut in his stake of 18 per cent.
© 2010, ↑ The Australian Eye News