14 DAY TRIAL // Come the start of 2010, Microsoft will be swapping chief financial officers. The Redmond company announced that Chris Liddell, the current CFO, will be leaving after December 31st, in order to pursue opportunities outside of Microsoft. At the same time, the software giant has already identified a replacement, namely Peter Klein, who currently occupies the position of CFO of Microsoft’s Business Division. In order to ensure a smooth transition to Klein’s new responsibilities with Microsoft, Liddell will continue in his current role until the end of this year.
“Chris and his finance team have accomplished a great deal over the past four and a half years. The team is deep and strong, and has an excellent record of building value for our shareholders,” stated Steve Ballmer, Microsoft chief executive officer. “Peter brings great finance and operations expertise and a deep understanding of the company, and I am looking forward to a smooth transition that continues our commitment to cost containment and finance excellence.”
According to Microsoft, Klein joined the company back in February 2002 and made his way up to the CFO of the Business Division, having also served as CFO of Microsoft’s Server and Tools Business. In addition, Klein has a string experience in corporate finance, having worked for such companies as McCaw Cellular Communications and Orca Bay Capital.
“I’m honored to take on the role of Microsoft CFO. I’ve learned a lot working with Chris, and I’m excited about the opportunities ahead for Microsoft,” Klein noted. “We have an incredible pipeline of products, we have strong financial and operational accountability, and we are well-positioned for growth as the economy recovers.”
Microsoft did not specify whether Liddell’s departure from the company is in any way connected with the financial results of the software giant in the context of the global recession. The Redmond company has been reporting weaker results compared to previous fiscal years and has gone through its first round of lay-offs.
“My time at Microsoft has been an outstanding experience, and I am delighted to be leaving the company in such great shape,” Liddell said. “We have built a world-class finance team and established strong internal accountability. Microsoft is coming out of the economic downturn with not only great product momentum but also strong discipline around costs and a focus on driving shareholder value.”
