Wed, May 16, 2012 | 22:31 BST
Ballmer tops Forbes’ “5 CEOs that truly deserve being fired” list
Forbes has named Microsoft CEO Steve Ballmer as the number one CEO “that truly deserves being fired.” Ballmer beat out other CEOs such as Walmart’s Mike Duke, the head of Sears and Cisco’s John Chambers.
According to the magazine, Ballmer’s “without a doubt the worst CEO of a large publicly traded American company today.”
“Not only has he singlehandedly steered Microsoft out of some of the fastest growing and most lucrative tech markets (mobile music, handsets and tablets) but in the process he has sacrificed the growth and profits of not only his company but ecosystem companies such as Dell, Hewlett Packard and even Nokia,” said the article.
“The reach of his bad leadership has extended far beyond Microsoft when it comes to destroying shareholder value – and jobs.
The article goes on to mention Microsoft’s stock prices which only recently stepped off the rollar coaster ride the form’s trading has been on since Ballmer took over in 2000. Still, shares in the company are in the low thirties, compared to $60 a share when Ballmer stepped in.
Forbes said the Microsoft Board should have replaced Ballmer years ago with “a CEO that understands the fast pace of technology shifts and would have kept Microsoft current with market trends.”