The head of Microsoft is retiring.
Steve Ballmer took over Microsoft from founder Bill Gates. Ballmer met Gates in 1973 when the two met when attending Harvard. He joined the corporation in 1980 and helped launch the windows operating software.
Now, after running the tech giant for 13 years, Ballmer says he plans to retire in the next year.
The 57-year-old billionaire said in a statement “There is never a perfect time for this type of transition, but now is the right time.”
Shares of Microsoft jumped eight percent after the news broke this morning.