Summary
Microsoft Corporation (MSFT) filed an 8-K on November 24, 2009, reporting a significant change in its executive leadership. The filing announces the resignation of Chief Financial Officer Christopher P. Liddell, who will remain with the company through December 31, 2009, to pursue other opportunities. This transition marks the end of Mr. Liddell's tenure as CFO. In parallel, Microsoft has appointed Peter Klein as the new Chief Financial Officer, effective immediately. Mr. Klein brings extensive financial experience within Microsoft, having most recently served as the corporate vice president and CFO of the Microsoft Business Division. His background includes leadership in financial planning, reporting, analysis, and investor communications for key business segments. This appointment signals a continuation of internal talent development for critical financial roles within the company.
Key Highlights
- 1Resignation of CFO Christopher P. Liddell, effective after December 31, 2009.
- 2Appointment of Peter Klein as the new Chief Financial Officer.
- 3Peter Klein's prior role as CFO of the Microsoft Business Division.
- 4Mr. Klein's compensation includes a base salary of $500,000 and participation in the Executive Officer Incentive Plan.
- 5Executive Officer Incentive Plan award will be 20% cash and 80% stock, vesting over four years.
- 6The filing includes a press release dated November 24, 2009, detailing these executive changes.
- 7Information regarding the CFO transition is primarily for disclosure purposes and not considered 'filed' under Section 18 of the Exchange Act.