Boston, MA 10/14/2013 (wallstreetpr) – In a sudden and unexpected move, some of the top investors at Microsoft Corporation (NASDAQ:MSFT) have begun lobbying hard to see its chairman Bill Gates step down. According to sources, three of the top 20 investors are worried that Bill Gates’s continued presence as chairman will obstruct the abilities and attempts of a new chief executive to bring about much-needed company reforms apart from the acceptance of new strategies. Gates’ role on the special search committee for Ballmer’s successor and his excessive hold over the company’s top decisions in stark contrast to his rapidly declining shareholding have also raised a lot of eyebrows.
Microsoft’s Chief Executive Officer Steve Ballmer’s inability for years to improve its performance and share price and recent futile strategies to increase dwindling revenues had forced the board to scout for a successor, with his sole backing coming from Gates. Analysts are expecting revenues for the quarter to be $17.75 billion. Microsoft’s net profit stood at $22 billion last fiscal year and its current net worth is of $277 billion, though its share prices have repeatedly failed to impress investors or the public for the last 10 years. Adding to its woes, the company lost significant ground and market share to Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG).
In recent times, Microsoft’s core revenue generators, the Windows operating systems and the Microsoft Office Suite have seen a steady decline in market share and revenues in wake of the growing popularity of smartphones and tablets, where Microsoft’s presence is limited to the Surface tablet and yet uncertain. Microsoft also have a very small share of the smartphone business; only 4% as compared with Apple’s 40% in the U.S. Microsoft’s operating system still does not support many popular apps like Instagram, Flipboard, among others.
Microsoft’s stocks last closed at 34.13 on October 10, registering a 0.12% jump to 34.17 during the after-hours on October 11.