WASHINGTON — Bill Gates, the founder and current chairman of Microsoft, is facing an effort to step down from the company he helped co-found 38 years ago.
Reuters reported that a group of three investors, who own 5% stake in the company, are pushing for the ouster of Bill Gates as the company’s chairman.
Microsoft did not comment on the story, but this comes at a time where Microsoft Chief Executive Officer Steve Ballmer faced large pressure from investors and board members to improve the companies’ prospects. Ballmer felt he was pushed out of being the CEO by others (as he is set to step down next August), but would not name names.
Although this is startling news, the company’s board will hear but most likely push aside the investors’ desire to oust Gates. Gates owns 4.5% of the $277 billion company and is the company’s largest single shareholder. But, Gates’ involvement in most company affairs could be stifling innovation, charged the group of investors.