Microsoft CFO Peter Klein Resigns
Peter Klein is leaving Microsoft to spend time with his other family.
NBC News reports that Microsoft's Peter Klein is leaving the company after eleven years, the latter three and a half of which he served as the company's Chief Financial Officer (CFO). Klein follows Windows head Steven Sinofsky who departed in November 2012 after working for the company since July 1989. Julie Larson-Green and Tami Reller took Sinofsky's place immediately after he departed – currently it's unknown who will fill Klein's place once he exits later this year.
The news arrives after Microsoft reported third-quarter earnings that exceeded analyst expectations, rising from last year's fiscal third quarter of $5.1 billion to this year's $6 billion, or 72 cents per share. Revenue also improved 18-percent from $17.41 billion a year ago to $20.49 billion. Analysts had expected Microsoft to report 68 cents a share on $20.5 billion revenue.
Klein's departure arrives as Microsoft struggles to keep its footing in a declining PC market. The company is already receiving some blame due to the lackluster reception of Windows 8, but is reportedly doubling its efforts for the next release slated to launch later this year. The company has also confirmed smaller Windows 8 devices while partner Intel is prediction lower prices this year.
The announcement of Klein's departure was made through the company's earnings report, saying that he will be leaving at the end of the fiscal year. Microsoft will be naming a new CFO from its finance leadership team in the next several weeks, the company said.
"It has been a pleasure to work with Peter as CFO," Ballmer said. "He’s been a key member of my leadership team and a strategic advisor to me, and I wish him the very best."
"I’ve had a great experience as CFO and overall in my time at Microsoft," Klein said. "We have an incredibly strong finance organization, and I’m looking forward to working with my successor on the transition through the end of the fiscal year."
Klein said that his decision to leave was not easy, that he loves his job and Microsoft. However he said now was a good time for him to step away and take some time to spend with his family in a way that he couldn't over the 30 years he has worked for various companies.
Get Tom's Hardware's best news and in-depth reviews, straight to your inbox.
"Looking ahead, I have no specific plans. In the short term I will work to ensure a smooth transition," he said. "After that I intend to spend time with my extended family which is dispersed throughout the country and hopefully get to some long deferred travel. For the last 11 years Microsoft has been my family and now I am going to focus on my other family."
NBC News has both the resignation letter submitted by Peter Klein, and the announcement to employees by Steve Ballmer.
Kevin Parrish has over a decade of experience as a writer, editor, and product tester. His work focused on computer hardware, networking equipment, smartphones, tablets, gaming consoles, and other internet-connected devices. His work has appeared in Tom's Hardware, Tom's Guide, Maximum PC, Digital Trends, Android Authority, How-To Geek, Lifewire, and others.
-
emad_ramlawi smart guy, especially if Windows 8.1 continues to flop, imagine what will happen if Windows 8.1 still sucks, Microsoft would seriously have to reconsider cause 2 slaps in the face will surely hurt, i am said that no one at GNU/Linux have a true alternative, something like Zorin OS or Linux Mint but with more Windows 7 look and feel , with the marketing of ubuntu can really sweep the market.Reply -
ssdpro He should have gone to the development team and demanded a classic start menu option. All you need to give consumers is options. When you take away options you are no different than iCompany herding the iSheep.Reply -
ssdpro He should have gone to the development team and demanded a classic start menu option. All you need to give consumers is options. When you take away options you are no different than iCompany herding the iSheep.Reply -
warezme rats leaving a sinking ship. It's amazing when such an obvious simple fix can get Win8 rolling again and the company is to blind or proud to see it.Reply -
moonsite The ship is not sinking. Microsoft's revenue is up. Stop spreading the hate. The guy is leaving to spend time with his family. I can understand that. After working for so long, it is time to enjoy life with family.Reply -
rrbronstein Reply10706676 said:The ship is not sinking. Microsoft's revenue is up. Stop spreading the hate. The guy is leaving to spend time with his family. I can understand that. After working for so long, it is time to enjoy life with family.
Microsofts revenue is not truly up, their windows 8 sales have been rather slow, although gaining a slight momentum in the current period. I just finished my class on accounting theory, and i guarantee that microsoft has revenue reserves stashed away from win7 success, and they've simply carried some revenue forward to beat analysts expectations to prevent their share price from dropping, and/or other speculation that microsoft is "a sinking ship". Dont fully trust the publicly known info until you actually read the financial statements/notes, and if microsoft has disclosed enough information to even full trust them...... im working on it.