Three Major Microsoft Investors Want Bill Gates to Step Down as Chairman

Nadia Damouni and Bill Rigby, reporting for Reuters:

The three investors are concerned that Gates’ presence on the board effectively blocks the adoption of new strategies and would limit the power of a new chief executive to make substantial changes. In particular, they point to Gates’ role on the special committee searching for Ballmer’s successor.

They are also worried that Gates - who spends most of his time on his philanthropic foundation - wields power out of proportion to his declining shareholding.

If anything comes of this — man, what an ignominious end.

★ Wednesday, 2 October 2013