A year after announcing his retirement, ex-Microsoft CEO Steve Ballmer has exited from the Redmond-based company's board of directors.
Ballmer disclosed his decision to step down from the board in a letter to present CEO Satya Nadella, which the company made public on Tuesday, August 19.
58-year-old Ballmer revealed that his decision was motivated by the desire to spend more time with the basketball team Los Angeles Clippers, which he recently acquired for $2 billion.
"I see a combination of the Clippers, civic contribution, teaching and study taking a lot of time," wrote Ballmer in the letter. "Given my confidence and the multitude of new commitments I am taking on now, I think it would be impractical for me to continue to serve on the board, and it is best for me to move off. The fall will be hectic between teaching a new class and the start of the NBA season so my departure from the board is effective immediately."
Ballmer joined Microsoft in 1980 when the company was a start-up. He served as the CEO from 2000 to Feb. 2014, handing over the reins of the company to Nadella. However, despite stepping down, Ballmer says he will still "bleed Microsoft" as he has for the past 34 years. He revealed that despite exiting from the board, he will still be proactive in keeping inputs and ideas flowing.
Ballmer also owns 333 million shares of Microsoft that are worth over $15 billion. He intends to hold on to his four percent stake in the company.
"I hold more Microsoft shares than anyone other than index funds and love the mix of profits, investments and dividends returned in our stock. I expect to continue holding that position for the foreseeable future," wrote Ballmer.
Ballmer's decision to exit from the board of directors does not come as a surprise. The move is seen as wise since it would help evade any ideological rifts between the new leadership under Nadella and the old school of thought.
Nadella wished Ballmer "incredible success" in his new endeavors and thanked him on behalf of the board of directors, saying that he would be "missed."
