MICROSOFT SHARES SURGE OVER 8% ON NEWS THAT STEVE BALLMER WILL RETIRE WITHIN A YEAR

Microsoft just announced CEO Steve Ballmer will retire.

And the stock is surging, up over 8% pre-market.

Ballmer, who has been CEO since 2000, will retire within the next 12 months, according to Microsoft. The board has begun the process of looking for a new CEO.

Last month, the company announced a major reorganization.

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