MICROSOFT chief executive Steve Ballmer is to retire from the technology giant within the next year. The world's biggest software company has not named a successor to Mr Ballmer, who took over from founder Bill Gates in 2000.
Mr Gates is on a special committee that has been formed to help find Mr Ballmer's replacement. Microsoft shares leapt ahead soon after trading opened on Wall Street. Mr Ballmer, who is leading an overhaul of the group into a devices and services company, said: "There is never a perfect time for this type of transition but now is the right time. We need a chief executive who will be here longer-term for this new direction."