ValueAct -based investment firm, recently bought a 0.8% stake in Microsoft. The next step is to take a seat on the board after signing a partnership agreement with Microsoft.
As part of the deal, Mason Morfit , president of ValueAct Capital, will be given “the alternative of a seat on Microsoft’s board of directors beginning at the first quarterly board meeting following the 2013 annual general meeting of shareholders,” Microsoft said in a statement today.
“Mason has extensive experience as a public company director, a wealth of financial knowledge and the perspective of a significant shareholder. We have been fortunate to get to know Mason over the past few months and look forward to working with him,” said John Thompson , independent director and chairman of Microsoft ’s board of directors and nominating committee .
“ Microsoft is a world-class company with tremendous long-term potential,” said Morfit. “At this critical inflection point in the company’s evolution, I look forward to actively working with the Microsoft to continue to create value for all shareholders.”
ValueAct Capital is cited as being primarily responsible for Steve Ballmer's departure, as the company did not agree with the current CEO's vision.
Even though Steve Ballmer has denied all rumors indicating ValueAct in his retirement decision, analysts and experts worldwide maintain that the CEO was fired by the board of directors.
