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Edition: U.S. Article Comments (2) Follow Reuters Facebook Twitter RSS YouTube Read Judge voids controversial Wisconsin union law 3:01pm EDT No smell of human decay in Casey Anthony's trunk: witness 3:09pm EDT Judge voids Wisconsin's anti-union law 1:52pm EDT Missing Joplin toddler identified at morgue | 4:02pm EDT Hedge fund star calls for Microsoft's Ballmer to go 25 May 2011 Discussed 329 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 Zynga buzz grows 4:15am EDT Microsoft board backs Ballmer over Einhorn Tweet Share this By Bill Rigby SEATTLE (Reuters) - Microsoft Corp's board stood behind Chief Executive Officer Steve Ballmer on Thursday, defending its longtime leader after influential hedge fund manager David Einhorn touched off a debate by calling for his... Email Print Related News Hedge fund star Einhorn calls for Microsoft's Ballmer to go 2:01pm EDT Ira Sohn Highlights: Chanos negative on First Solar, Vestas 2:01pm EDT Related Topics Technology » Media » Microsoft Chief Executive Officer (CEO) Steve Ballmer gestures as he speaks during the CII Cloud Summit - Enabling Inclusive Innovation, in New Delhi May 26, 2011. Microsoft Corp's board stood behind CEO Ballmer on Thursday, defending its longtime leader after influential hedge fund manager David Einhorn touched off a debate by calling for his dismissal. Credit: Reuters/B Mathur By Bill Rigby SEATTLE | Thu May 26, 2011 2:55pm EDT SEATTLE (Reuters) - Microsoft Corp's board stood behind Chief Executive Officer Steve Ballmer on Thursday, defending its longtime leader after influential hedge fund manager David Einhorn touched off a debate by calling for his dismissal. The fund manager, who made his name warning about Lehman Brothers Holdings Inc's financial health before the investment bank's collapse, accused Ballmer on Wednesday evening of being stuck in the past, launching the sharpest attack yet by a high-profile investor against the company's leadership. Einhorn's comments, which echo what some investors have said for some years in private, caused a stir on Wall Street and helped Microsoft shares climb 2.4 percent on Thursday to $24.76. "His continued presence is the biggest overhang on Microsoft's stock," Einhorn told fellow fund managers at the annual Ira Sohn Investment Research Conference in New York. Microsoft's nine-person board, including Chairman and co-founder Bill Gates, supports Ballmer, a source close to the board told Reuters on Thursday. Microsoft -- the largest U.S. company by market value in the late 1990s -- has been overtaken by Apple Inc and International Business Machines Corp in market value, and is no longer seen as a dominating force in technology after a failure to capitalize on Internet and mobile markets. Before Thursday's gain, the stock had been down 6 percent in the past two weeks after Microsoft agreed to pay $8.5 billion for Internet phone service Skype, a move that mystified many investors. Einhorn 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 Google Inc. "Clearly, some people are calling for a change," said Sid Parakh, analyst with McAdams Wright Ragen. "If you look at the financial performance, that's been fine. But I think the issue is broader than that. "If you look at search, mobile, tablet, these are areas they should have been investing in, and they have -- but they weren't able to get it right," he added. But: "If there was any reason to believe the board was not with Steve, it would be a different situation. But the board seems to be behind Steve." IT'S ON 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. "What it boils down to is that Microsoft has had a load of initiatives which haven't shown traction yet," said one U.S. equity fund manager at an investment house featuring on the list of Microsoft's top 40 largest shareholders. "The most recent one is to buy Skype, and the perception on that is that it is overvalued. We won't know what revenue synergies are until two, three years down the road." "Microsoft created the platform on which Google and the Internet can go forward, and it's not exactly yesterday's technology; but they do have to connect more with the mobile computing world and they haven't really done that. BGC Partners Colin Gillis credited the rise in Microsoft's stock price Thursday to "fast money," or investors looking to take advantage of an undervalued stock. "It's on. David Einhorn likes to shake things up," Gillis said. As for Microsoft's stock staying flat over a decade, "the question is, is it because of Ballmer, or is it because people are concerned about a post-PC era?" (Reporting by Bill Rigby, Edwin Chan, Sinead Carew and Paul Thomasch, writing by Edwin Chan; Editing by Gerald E. McCormick, Dave Zimmerman) 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 (2) sandhuatretuers wrote: Microsoft board probably does not use Microsoft’s products. Writing is on the wall, Ballmer has no out of the box thinking to lead Microsoft in a new direction or bring about bold changes that can disrupt the market. Microsoft is now the old guy in tech world, largely thanks to Ballmer. May 26, 2011 2:58pm EDT -- Report as abuse silviustd wrote: I am really amazed by the fact that one guy who is hedge fund manager did not get the return that he was hoping for and now makes some noise. In all this white noise people are kind of missing the big picture .net is competing on middleware market with j2ee – which is promoted by several companies bing competes with google ie competes with firefox, opera, chrome windows mobile competes with iOS , android kinect goes against wii Xbox against ps, Nintendo and so on with all these and here we are some guy who wanted to make a quick buck and things did not worked that well makes some noise and everybody is listening to him if he is so unhappy why does not sell the shares and invest in another company that he thinks will make him rich May 26, 2011 4:04pm 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. 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