Some Microsoft investors want Bill Gates out.
Three of the top 20 investors are reportedly lobbying the board to ask Bill Gates to step down as chairman of the company he founded nearly 4 decades ago. Gates owns 4 and a half percent of the stock and is the biggest shareholder.
Some investors are said to be concerned that Gates' role as chairman is blocking new strategies and limiting the power of a new CEO to make changes to put the company back on track.
Gates is selling about 80 million of his shares a year under a pre-set plan which would leave him with no financial stake in Microsoft by 2018. He spends most of his time these days in philanthropic endeavors.
- Rob Archer