Summary
Microsoft Corporation (MSFT) filed an 8-K on January 11, 2008, to report a significant leadership change within its Business Division. The filing announces the planned retirement of Jeffrey S. Raikes, president of the Microsoft Business Division, effective September 2008. Mr. Raikes will transition from his role but remain on the senior leadership team during this period. To ensure a smooth transition and fill the leadership gap, Microsoft has appointed Stephen Elop as the new president of the Microsoft Business Division, effective late January 2008. Mr. Elop joins Microsoft from Juniper Networks, Inc., where he served as Chief Operating Officer. This leadership transition is a key event for investors to monitor as the Business Division is a core revenue generator for Microsoft.
Key Highlights
- 1Jeffrey S. Raikes, President of the Microsoft Business Division, will retire.
- 2Mr. Raikes' retirement is planned for September 2008.
- 3Mr. Raikes will remain on the senior leadership team through his retirement.
- 4Stephen Elop has been hired to succeed Mr. Raikes.
- 5Mr. Elop's appointment as President of the Microsoft Business Division is effective late January 2008.
- 6Stephen Elop previously served as Chief Operating Officer of Juniper Networks, Inc.