Printed from http://www.electronista.com

Three top investors seek ouster of Bill Gates from Microsoft board

updated 12:06 am EDT, Wed October 2, 2013

Unknown if other board members will go along with plan to remove Gates

On the heels of CEO Steven Ballmer's exit, three of the top 20 investors in Microsoft are pressing the company's board of directors to force BIll Gates out of his chairman position. The investors are concerned that Gates holds a disproportionate influence over the company than his 4.5 percent stake should allow, and his role is preventing the company from implementing new strategies to help it survive a changing industry.

Gates is unloading 80 million Microsoft shares a year in a prearranged plan, giving him no stake in the company by 2018, but the unnamed investors apparently don't want to wait. Given existing trends, Gates will remain the largest single shareholder through 2016.

According to reports, the three institutions pressing for Gates' ouster own just over five percent of the company combined. Microsoft has declined comment on the reports.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Lemur BlueDriver

"Oh no, the check engine light is on…again! What one of the hundreds of reasons could it be this time? Probably going to cost a fort ...

Sponsor

toggle

Most Commented

 
toggle

Popular News