On Friday Microsoft has provided its board seats ValueAct capital management, activist fund manager , Microsoft Chief Executive Officer Steve Ballmer to step down and take $ 2 pressed , I want a software giant's strategic voice million shares earlier this year.
ValueAct offer marks a victory . Reuters first reported in July , the Fund is seeking a seat on the Board of Directors quarterly criticized Microsoft's share price underperformance .
San Francisco-based fund for clients manages about $ 1.2 billion , with 0.8% of Microsoft shares . Established in 2000 , the financial industry veteran Jeff Ubben construction holds shares , with management and work fundamentally change strategy , and achieved good reputation.
The fund does not say much about it with Microsoft's public goal, but people familiar with their thinking said it was concerned about the leadership of Steve Ballmer and Microsoft's foray into hardware devices wisdom, as well, which seek higher dividends and share buybacks for shareholders.
Ballmer announced last week that he plans to retire in 12 months , but he said ValueAct 's got nothing to do his decision.
He retired as a surprise , just six weeks later, he launched an ambitious plan to get cool by the investor , surrounded by restructuring the company's equipment and services , rather than its core software products.
According to Friday's agreement, Microsoft will provide ValueAct 's president , Mason Morfit, a technology company 's annual shareholder meeting , which is usually held in mid-November , choose to join Microsoft's board of directors .
ValueAct did not say whether the Government will take a seat on the Board 's proposal , and did not immediately return a call seeking comment .
The agreement also provides for regular meetings between the Morfit and selected Microsoft directors and management discussion , " a series of major business issues ," Microsoft said that no further details on these issues .
ValueAct 's Morfit has been since 2001 , worked for Credit Suisse First Boston Securities Research . He also said ValueAct Board Valeant Pharmaceuticals International, Inc. , where he won praise Valeant CEO J. Michael Pearson innovative remuneration package , including requirements to buy stocks, zero annual purchase subsidies and "lock " period sales Architects stocks.
If ValueAct accept Microsoft's offer , Morfit will become the board, which is by the former Symantec CEO John Thompson led the first 10 members .
Co-founder and chairman Bill Gates and CEO Steve Ballmer , is maintained between them nearly 9 %, Microsoft 's stock , also sit on the board.
Microsoft said in a regulatory filing said that as part of the agreement , ValueAct can not launch a proxy contest , asking for the appointment of new directors on the board of directors and the general public hostility methods .
In after-hours trading, Microsoft shares rose 10 cents to $ 33.50 .



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