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Microsoft (NASDAQ: MSFT ) reported Q3 earnings today, pushing profits up 19% on Windows sales. But even as finances flourish, the company announced that CFO Peter Klein will step down at the end of fiscal 2013 after 11 years with Microsoft.
Klein began his Microsoft career as CFO of the company's Server & Tools Business Group. In 2006, he moved up to CFO of the Business Division, and assumed his current role just under four years ago.
In a statement today, CEO Steve Ballmer noted that: "It has been a pleasure to work with Peter as CFO. He's been a key member of my leadership team and a strategic advisor to me, and I wish him the very best."
Microsoft will name a new CFO in the next few weeks, and expects the position to be filled by someone from the company's finance leadership team.
It's been a frustrating path for Microsoft investors, who've watched the company fail to capitalize on the incredible growth in mobile over the past decade. However, with the release of its own tablet, along with the widely anticipated Windows 8 operating system, the company is looking to make a splash in this booming market. In this brand-new premium report on Microsoft, our analyst explains that, while the opportunity is huge, the challenges are many. He's also providing regular updates as key events occur, so make sure to claim a copy of this report now by clicking here.