Microsoft And ValueAct Sign Cooperation Deal Shortly After Ballmer’s Departure
Ryan Martin / 3 years ago
Well it appears ValueAct Capital might have been behind Steve Ballmer’s departure after all. Steve Ballmer, pictured above, was quick to deny rumours that the Microsoft investor was behind his decision to leave on the day he announced his scheduled retirement from Microsoft. Yet Microsoft and ValueAct recently released a statement to announce that they have signed a Cooperation agreement. The agreement sees ValueAct capital given an option of joining the Microsoft board. ValueAct’s President Mason Morfit will take the seat.
“Microsoft is a world-class company with tremendous long-term potential,” said Morfit. “At this critical inflection point in the company’s evolution, I look forward to actively working together with the board and Microsoft’s management team to continue to create value for all shareholders.”
ValueAct had been known to be behind the decision to oust Steve Ballmer and now that the deal is official things are more clear. Steve Ballmer had commented previously on ValueAct’s involvement stating:
“Our board and management team are committed to enhancing growth and value for Microsoft shareholders, and we look forward to ValueAct Capital’s input”
Of course Steve Ballmer’s probably not feeling too hard done by as his personal wealth grew nearly $1 billion just by quitting and that doesn’t even include the huge pay-off he is likely to receive in a year when he officially leaves.
Image courtesy of Microsoft