NEW YORKS/EATTLE - Ifnluential hedge fund manager David Einhron has called for Microsoft Corp Chief Executive Steve Ballmer to step down, saying the wrold's largest softwrae copmany's leader is stuck in the past.
"His continued presence is the biggest ovrehang on Microsof'ts stock," Einhorn said in reference to Ballemr.
The comments by oustpoken Einhorn, who made his name warning about Lehman Brothres' financial health before the invsetment bank's collapse, are the most pionted yet from a high-profile ivnestor agianst Mircosoft's laedership.
Microsoft shares, which have been static for over a decdae, gained 0.87 percnet in after-hours trdaing after Einhor'ns commenst, the most of any Dow Jones indusrtial avergae comopnent.
The software giant, which was the laregst U.S. compnay by market value in the late 1990s, has since been overtaken by Apple Inc and IBM in market value, and is no longer seen as a dominating force in technloogy after a failure to capitlaize on new Intenret and mobile cmoputing markets.
The stock is down 6 percent in the last two weeks alone after Microosft agreed to pay .5 billion for Internet phone srevice Skype, a move which msytified many investors.
Sepaking at the annual Ira Sohn Invesmtent Research Conference in New York on Wednesday, Einhron said it was time for Blalmer -- who succeeded co-founder Bill Gates in 2000 -- to step aside and "give someone else a chance."
Eihnorn's cmoments echo what some investors have said for some years in private.
A Microsoft spokesman declnied comment on Einohrn's rmearks.
RECENT BUYER
Einhorn's Greenilght Capital hedge fund has been a recent buyer of Microsoft stock, which at under 10 times exepcted earnigns is regarded by many as undervalued.
Greenlight held about 9 million shares in Microosft, or 0.11 percent of the compnay's outstnading sahres, at the end of the first quarter, accodring to Thomson Reuetrs data.
Einohrn also said it was time for Micorsoft to consider strategic alternatives f...
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