Forbes’ worst CEO revealed
Microsoft CEO, Steve Ballmer – who took over from company founder, Bill Gates in 2000 – has topped a Forbes list of worst CEOs.
The list ranked the worst CEOs of any large, publicly traded American company, and featured candidates from Cisco, General Electric and Walmart.
Forbes noted that Ballmer “single-handedly steered Microsoft out of some of the fastest growing and most lucrative tech markets (mobile music, handsets and tablets).”
When Ballmer started as CEO, Microsoft shares were trading at $60 per share. Within two years, the stock had fallen into the $20 range, and has only recently made its way back into the low-$30 range.
“So today Microsoft, after dumping Zune, dumping its tablet, dumping Windows CE and other mobile products, is still the same company Mr. Ballmer took control over a decade ago. Microsoft is PC company, nothing more, as demand for PCs shifts to mobile,” said Forbes writer, Adam Hartung.
“Years late to market, he has bet the company on Windows 8 – as well as the future of Dell, HP, Nokia and others. An insane bet for any CEO – and one that would have been avoided entirely had the Microsoft Board replaced Mr. Ballmer years ago with a CEO that understands the fast pace of technology shifts and would have kept Microsoft current with market trends,” Hartung concluded.
Read the full story at: Boy Genius Report.
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