Top executive resigns from software company, Microsoft Corporation( MSFT ) Monday.
Head of Microsoft's Windows unit, Steven Sinofsky has decided to resign from his position at Microsoft after being with the company for 23 years. The news came shocking since Sinofsky was expected to become MSFT's next CEO.
Sinofsky started at the company in 1989, where he worked as Bill Gates assistant. He will now be replaced by Julie Larson-Green. Additionally, the company reported that CEO Steve Ballmer will also take on extra responsibilities.
Ballmer commented, "I am grateful for the many years of work that Steven has contributed to the company. The products and services we have delivered to the market in the past few months mark the launch of a new era at Microsoft."
Although Sinofsky did not give a reason why he was leaving the company, an executive from the company reported that the decision was mutual, and Sinofsky is not expected to work for another company anytime soon.
Microsoft shares were down $1.10, or -3.90% during premarket trading Tuesday.
The Bottom Line
Shares of Microsoft ( MSFT ) have a 3.26% dividend yield, based on last night's closing stock price of $28.22. The stock has technical support in the $26 price area. If the shares can firm up, we see overhead resistance around the $30-$31 price levels.
Microsoft Corporation( MSFT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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