Microsoft CEO Steve Ballmer to Retire Within 12 Months

Microsoft CEO unveils the new Windows Phone 8 
at Bill Graham Civic Auditorium on Oct. 29, 2012 
in San Francisco, Calif.

Microsoft Corp. MSFT +7.58% said Friday that longtime Chief Executive Steve Ballmer has decided to retire within the next 12 months, a move that comes a month after he unveiled a shift in focus for the tech giant.

Mr. Ballmer, who is 57 years old, will depart after a successor has been chosen. The company's board has appointed a special committee—including Chairman Bill Gates—that will consider both external and internal candidates.

Microsoft shares were up sharply in morning trading.

"There is never a perfect time for this type of transition, but now is the right time," Mr. Ballmer said in a prepared statement.

Under Mr. Ballmer, Microsoft has endured years of investor criticism as the rise of mobile devices and Internet services eroded the influence of the personal computer-era kingpin. The company has responded to the shift in consumer and business spending away from PCs in a variety of ways, including developing its own tablet-style computer in competition with longtime partners.

More broadly, the tech giant is working to become a different kind of company, known less for programs that people buy than for devices and services that require software.

Mr. Ballmer said his "original thoughts on timing would have had my retirement happen in the middle of our company's transformation," but said the company now needs a CEO who "will be here longer term for this new direction."...[...]

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