Microsoft CFO Peter Klein Resigns
Peter Klein is leaving Microsoft to spend time with his other family.
NBC News reports that Microsoft's Peter Klein is leaving the company after eleven years, the latter three and a half of which he served as the company's Chief Financial Officer (CFO). Klein follows Windows head Steven Sinofsky who departed in November 2012 after working for the company since July 1989. Julie Larson-Green and Tami Reller took Sinofsky's place immediately after he departed – currently it's unknown who will fill Klein's place once he exits later this year.
The news arrives after Microsoft reported third-quarter earnings that exceeded analyst expectations, rising from last year's fiscal third quarter of $5.1 billion to this year's $6 billion, or 72 cents per share. Revenue also improved 18-percent from $17.41 billion a year ago to $20.49 billion. Analysts had expected Microsoft to report 68 cents a share on $20.5 billion revenue.
Klein's departure arrives as Microsoft struggles to keep its footing in a declining PC market. The company is already receiving some blame due to the lackluster reception of Windows 8, but is reportedly doubling its efforts for the next release slated to launch later this year. The company has also confirmed smaller Windows 8 devices while partner Intel is prediction lower prices this year.
The announcement of Klein's departure was made through the company's earnings report, saying that he will be leaving at the end of the fiscal year. Microsoft will be naming a new CFO from its finance leadership team in the next several weeks, the company said.
"It has been a pleasure to work with Peter as CFO," Ballmer said. "He’s been a key member of my leadership team and a strategic advisor to me, and I wish him the very best."
"I’ve had a great experience as CFO and overall in my time at Microsoft," Klein said. "We have an incredibly strong finance organization, and I’m looking forward to working with my successor on the transition through the end of the fiscal year."
Klein said that his decision to leave was not easy, that he loves his job and Microsoft. However he said now was a good time for him to step away and take some time to spend with his family in a way that he couldn't over the 30 years he has worked for various companies.
"Looking ahead, I have no specific plans. In the short term I will work to ensure a smooth transition," he said. "After that I intend to spend time with my extended family which is dispersed throughout the country and hopefully get to some long deferred travel. For the last 11 years Microsoft has been my family and now I am going to focus on my other family."
NBC News has both the resignation letter submitted by Peter Klein, and the announcement to employees by Steve Ballmer.