Software giant Microsoft (NASDAQ:MSFT) needs a new CEO. However, it appears that, months after outgoing chief Steve Ballmer announced he would step down from Microsoft's top spot this year, the company's board will need more time to find his eventual successor.
Recently, John Thompson, a member of Microsoft's board and the person running Microsoft's CEO search committee, said just as much. In a blog post on Microsoft's website, Thompson announced that the CEO hunt, which it was hoping would have run its course in 2013, will have to extend into 2014 to find and secure someone who's up to the job of running Microsoft.
Big shoes to fill
The person who lands in the top spot at Microsoft will certainly be facing challenges, so it seems more than justified that the CEO search committee takes extra time, if needed. This makes all the more sense, because Microsoft's new CEO will be tasked with crafting and executing a long-term strategy for a company that many perceive to have declined substantively over the last 10 years.
In the video below, tech and telecom analyst Andrew Tonner looks at the most recent news in the search for Microsoft's next leader.
Fool contributor Andrew Tonner owns shares of eBay and Ford. Follow Andrew and all his writing on Twitter at @AndrewTonner. The Motley Fool recommends eBay and Ford. The Motley Fool owns shares of eBay, Ford, Microsoft, and Qualcomm. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.