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MICROSOFT SHARES SURGE OVER 8% ON NEWS THAT STEVE BALLMER WILL RETIRE WITHIN A YEAR

Steven PerlbergAug 23, 2013, 18:36 IST

Microsoft just announced CEO Steve Ballmer will retire within a year.

And the stock is surging, up nearly 8% pre-market.

Ballmer, who has been CEO since 2000, will retire within the next 12 months, according to Microsoft. And the board has begun the process of looking for a new CEO.

Yahoo Finance