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Microsoft CEO Steve Ballmer To Retire Within A Year

RENEE MONTAGNE, HOST:

NPR's business news starts with an update from Microsoft.

(SOUNDBITE OF MUSIC)

MONTAGNE: Microsoft has announced its CEO Steve Ballmer will retire within the next 12 months. A statement released this morning says he'll stay on until his successor is found. Ballmer has been with the company for more than 30 years and he became CEO in 2000. Microsoft, which, of course, is famous for its Windows operating system for personal computers has had trouble adapting as more consumers shift to mobile devices and its stock jumped sharply on the news of Ballmer's impending retirement. Transcript provided by NPR, Copyright NPR.