Microsoft share price: Two senior executives to depart in reshuffle

on Mar 3, 2014
Updated: Apr 9, 2020
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iNVEZZ.com, Monday, March 3: Two senior executives are set to leave Microsoft (NASDAQ:MSFT), while a former political operative is to be appointed as chief strategy officer at the US software company, according to media reports.

Citing inside sources, technology news website Re/Code revealed yesterday that vice presidents Tony Bates and Tami Reller will be leaving Microsoft, with an announcement on the departures expected tomorrow.
According to the report, Bates, the former Skype CEO in charge of Microsoft’s business development, will leave immediately, while Reller, the software maker’s head of marketing, will remain with Microsoft for some time to help with the transition. Bates’ duties will be temporarily handled by Eric Rudder, who oversees Microsoft’s advanced strategy, while Reller’s replacement will be marketing executive Chris Capossela, Re/Code revealed.

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Capossela is also set to take over the company’s advertising operations, as Mark Penn, the executive vice president of Microsoft’s advertising and strategy group, will become the company’s chief strategy officer, The New York Times yesterday reported.
Previously, Penn was worldwide CEO of Burson-Marsteller and CEO of Penn Schoen Berland, serving as senior adviser to global corporate and political leaders including Bill Gates, Bill Ford, UK Prime Minister Tony Blair, Israeli Prime Minister Menachem Begin, Senator Hillary Rodham Clinton and President Bill Clinton.

The expected shuffling within Microsoft’s ranks follows last month’s announcement that the company’s hardware group chief Julie Larson-Green will move to the applications and services unit. The management shake-up is also the most extensive yet for Microsoft’s new CEO Satya Nadella, who was appointed in February after a five-month search (Microsoft share price: Satya Nadella replaces Ballmer as CEO).

When contacted by the media, Microsoft declined to comment on the reported management changes.
**Microsoft share price**
Microsoft’s share price – which has gained 5.4 percent since Nadella’s appointment on February 4 — closed Friday’s regular trading at $38.31, up $0.45 or 1.19 percent on the day.
According to AnalystRatingsNetwork data, four research analysts have a ‘sell’ rating on Microsoft, 19 have it as a ‘hold’ and 13 call it a ‘buy’. The stock’s consensus rating is ‘hold’ with an average price target of $36.20.
**As of Friday, February 28, buy Microsoft shares at $37.93.**
**As of Friday, February 28, sell Microsoft shares at $37.52.**

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