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Ballmer leaves Microsoft board to focus on Clippers, teaching
Former Microsoft Corp. CEO Steve Ballmer, who says, "I bleed Microsoft — have for 34 years and I always will," stepped down as one of the company's board members on Tuesday to focus on his new life as owner of the Los Angeles Clippers. In an email to Microsoft CEO Satya Nadella, Ballmer — who purchased the NBA team for $2 billion in May — also noted that he's committing his time to teaching a new class.
"Given my confidence and the multitude of new commitments I am taking on now, I think it would be impractical for me to continue to serve on the board, and it is best for me to move off," Ballmer wrote.
Ballmer, 58, noted that he holds more Microsoft shares than anyone other than index funds and loves the mix of profits, investments and dividends returned in the company's stock. According to a Bloomberg report, Ballmer owns 333.3 million shares of Microsoft and has collected about $3.4 billion selling shares since the company’s 1986 initial public offering, and has a net worth of $20.8 billion.
Nadella, who replaced Ballmer as CEO in February, responded to Ballmer in an email on Tuesday.
He noted: "While your insights and leadership will be greatly missed as part of the board, I understand and support your decision.
"As you embark on your new journey, I am sure that you will bring the same boldness, passion and impact to your new endeavors that you brought to Microsoft, and we wish you incredible success. I also look forward to partnering with you as a shareholder."