Microsoft names the head of investor ValueAct Capital to board of directors
March 14, 2014, 12:09 am TWN
REDMOND, Washington--Microsoft Corp. has appointed Mason Morfit, the president of activist investment firm ValueAct Capital, to its board of directors.
Morfit has pushed for Microsoft to focus on its enterprise software products and cloud computing business rather than its flagship Windows computer operating system, which is being hurt by the declining sale of PCs.
The appointment, announced late Tuesday, had been expected. Microsoft entered into a cooperation agreement with ValueAct in August following the firm's purchase last year of some 66.9 million shares, or about 0.8 percent of the total outstanding. That stock is currently worth about US$2.55 billion.