Greenlight Capital’s David Einhorn calls for Steve Ballmer’s resignation
|May 26th, 2011||
|David Einhorn, a prominent shareholder activist and founder of hedge fund Greenlight Capital, told attendees at the Ira Sohn Investment Research Conference yesterday that he wants Steve Ballmer to step-down from his role as Chief Executive Officer of Microsoft Corp (NASDAQ: MSFT). According to CNBC, Einhorn stated that Ballmer’s “continued presence is the biggest overhang on Microsoft's stock.”|
Several experts, including Ironfire Capital’s Eric Jackson, have publically supported Einhorn’s criticisms, but most agree that Microsoft’s board is too cozy with Mr. Ballmer to force his resignation.
According to Q1 filings, David Einhorn’s Greenlight Capital holds 9,069,042 shares or nearly $230 million of MSFT’s stock. Mr. Einhorn, who co-founded Greenlight in 1996, made a name for himself during the financial crisis when he predicted Lehman Brothers’ downfall.
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