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Edition: U.S. Article Comments (1) Follow Reuters Facebook Twitter RSS YouTube Read Deep-voiced Scotty McCreery wins "American Idol" 2:29am EDT Hedge fund star calls for Microsoft's Ballmer to go 25 May 2011 MSNBC suspends Schultz over Ingraham remark 25 May 2011 Casey Anthony "normal," "happy" after tot's death 1:37am EDT Hedge fund star calls for Microsoft CEO to go 1:51am EDT Discussed 327 Obama and Netanyahu face tense meeting on Mideast 127 As hours tick by, ”Judgment Day” looks a dud 105 Broadcaster silent as Judgment Day hours tick by Watched Ultra-realistic robots test our relationship with machines Wed, May 25 2011 Scientists revive ancient spider in stunning 3D detail Tue, May 24 2011 Deadly Missouri tornado captured on video Mon, May 23 2011 Hedge fund star calls for Microsoft CEO to go Tweet Share this By Svea Herbst-Bayliss and Bill Rigby NEW YORK/SEATTLE (Reuters) - Influential hedge fund manager David Einhorn has called for Microsoft Corp Chief Executive Steve Ballmer to step down, saying the world's largest software company's leader is stuck... Email Print Related News Ira Sohn Highlights: Chanos negative on First Solar, Vestas 1:51am EDT Analysis & Opinion Joe Weisenthal is right about the Ira Sohn conference IBM looks set to sustain march on tech rivals Related Topics Technology » Media » Microsoft Corporation Chief Executive Officer Steve Ballmer gestures during the McGraw-Hill Media Summit in New York, March 19, 2009. Credit: Reuters/Shannon Stapleton By Svea Herbst-Bayliss and Bill Rigby NEW YORK/SEATTLE | Thu May 26, 2011 1:51am EDT NEW YORK/SEATTLE (Reuters) - Influential hedge fund manager David Einhorn has called for Microsoft Corp Chief Executive Steve Ballmer to step down, saying the world's largest software company's leader is stuck in the past. "His continued presence is the biggest overhang on Microsoft's stock," Einhorn said in reference to Ballmer. The comments by outspoken Einhorn, who made his name warning about Lehman Brothers' financial health before the investment bank's collapse, are the most pointed yet from a high-profile investor against Microsoft's leadership. Microsoft shares, which have been static for over a decade, gained 0.87 percent in after-hours trading after Einhorn's comments, the most of any Dow Jones industrial average component. The software giant, which was the largest U.S. company by market value in the late 1990s, has since been overtaken by Apple Inc and IBM in market value, and is no longer seen as a dominating force in technology after a failure to capitalize on new Internet and mobile computing markets. The stock is down 6 percent in the last two weeks alone after Microsoft agreed to pay $8.5 billion for Internet phone service Skype, a move which mystified many investors. Speaking at the annual Ira Sohn Investment Research Conference in New York on Wednesday, Einhorn said it was time for Ballmer -- who succeeded co-founder Bill Gates in 2000 -- to step aside and "give someone else a chance." Einhorn's comments echo what some investors have said for some years in private. A Microsoft spokesman declined comment on Einhorn's remarks. RECENT BUYER Einhorn's Greenlight Capital hedge fund has been a recent buyer of Microsoft stock, which at under 10 times expected earnings is regarded by many as undervalued. Greenlight held about 9 million shares in Microsoft, or 0.11 percent of the company's outstanding shares, at the end of the first quarter, according to Thomson Reuters data. Einhorn also said it was time for Microsoft to consider strategic alternatives for its money-losing online business, which has so far failed to win share from online search leader Google Inc. The online services unit, which runs the Bing search engine and MSN web portal, had a loss of $726 million last quarter and has now lost $7 billion in four years. Bing has made some progress, raising its U.S. Internet search market share to 14 percent from 8 percent in the two years since launch, but has not taken any share from Google, which has held on to its 65 percent share, according to research firm comScore. Einhorn declined to comment further. OLD FOES APPLE, IBM REVIVED On Tuesday, Microsoft was overtaken by IBM in market value for the first time in 15 years, chiefly because of Microsoft's static share price. Apple roared past it last year to become the world's most valuable tech company. (Graphic showing market value of Apple, IBM and Microsoft over time: r.reuters.com/jaw69r ) An investor who put $100,000 into Microsoft stock 10 years ago would now have about $69,000 worth. Einhorn, the president of Greenlight Capital, which had $7.8 billion of assets as of January 1, made his name with the prescient call on Lehman's accounting troubles. In the spring of 2008, Einhorn said Lehman -- and its then-Chief Financial Officer Erin Callan -- had understated its own problems and needed to raise capital to support a balance sheet peppered with risky assets. Einhorn's public speeches on the matter in April and May 2008 -- including one at the Ira Sohn conference that year -- touched a nerve with other investors and are widely credited as leading to Callan's departure from the company a few months before its collapse. Microsoft shares, which gained 4 cents in normal trading, ended up a further 12 cents at $24.31 in after-hours activity. (Reporting by Bill Rigby, Svea Herbst and Edwin Chan; Editing by Steve Orlofsky, Lisa Shumaker and Carol Bishopric) Technology Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (1) justuhvoter wrote: Bravo! Ballmar is the most incompetent CEO in America, leading the company from failure to failure, destroying stock value, gutting company morale, embroiled in legal battles for stealing software, anti-competitive business practice ….. and generally being the laughing stock of the industry. Good riddance. May 26, 2011 1:03am EDT -- Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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