When Microsoft CEO Steve Ballmer announced his pending retirement from the company in August, he told employees and investors that he would step down within 12 months. However, with significant turmoil at the Redmond software giant, including a $7 billion bid to acquire Nokia’s hardware division, it looks like the company’s board is moving faster than expected. Citing sources close to Microsoft’s board, Bloomberg reported Thursday that the company is aiming to hire Mr. Ballmer’s replacement by the end of the year.
While Microsoft has yet to officially comment on any potential candidates, sources report that many high profile executives are under consideration, including Ford’s Alan Mulally. Current and former Microsoft executives, such as Paul Maritz, Tony Bates, and Stephen Elop, are also vying for the job.
Bloomberg reports that the field of candidates has narrowed significantly since the search began two months ago, and that the timing of the hire will depend on final compensation negotiations, as well as departure strategies for outside candidates.
Mr. Ballmer’s departure from Microsoft is widely believed to be tied to the company’s failure to successfully compete in the increasingly important mobile industry. Rivals Google and Apple have marginalized Microsoft’s products and services in this area, and the company’s high profile Windows Phone and Surface initiatives has thus far failed to gain significant traction in most markets.
Mr. Ballmer’s eventual successor will become only the third CEO in the company’s history. Board Chairman and founder Bill Gates ran Microsoft from its founding in 1975 until early 2000, followed by Mr. Ballmer’s tenure since that time.