Windows head man leaving Microsoft
Microsoft stock could remain under pressure as investors consider the ramifications of Windows chief Steven Sinofsky’s sudden departure from the company after more than 20 years of service.
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Shares of Microsoft (MSFT) dropped more than 5% early Tuesday to $26.75, the lowest level since January. By the afternoon, the stock pared some of the losses, but was still down about 3%.
Sinofsky’s exit came as a surprise, coming just two weeks after Microsoft’s launch of Windows 8, which has been radically redesigned and considered to be a key to Microsoft’s future success.
“We think this is a clear blow to the company,” said Brad Reback, Stifel Nicolaus analyst, in a research note. He noted that in addition to overseeing many of the company’s core products, including Office and, most recently, Windows, Sinofsky was also considered to be a potential successor to Microsoft CEO Steve Ballmer. Given Sinofsky’s central role at the company, Reback expects Microsoft’s shares could fall further in the near-term.
To read the rest of the CNN/Money article, click here.
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