Microsoft Executive Officer Steve Ballmer announced that he will retire within the next 12 months after more than a decade leading the world’s largest software maker. Microsoft’s, which struggled to adapt to an era of declining personal-computer sales, has formed a committee that will search for a successor.
The committee will also include Microsoft co-founder Bill Gates. Ballmer, who took over the CEO role from Gates in 2000, has been working to bolster Microsoft’s performance in areas like mobile computing as consumers gravitate to smartphones and tablets, away from the PCs that have long been powered by Microsoft’s flagship Windows software. Microsoft shares rose as much as 7.3%.