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Bill Gates asked to step down by Microsoft investors

Three investors at Microsoft are lobbying for Bill Gates to be replaced as chairman of the company.
By VERONICA LINARES, UPI.com   |   Oct. 2, 2013 at 10:23 AM   |   Comments

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Oct. 2 (UPI) -- Three top investors at Microsoft want Bill Gates to step down as chairman of the company he founded nearly 40 years ago.

The identity of the investors remains a mystery, but according to reports, the three are lobbying Microsoft's board of directors for Gates to be replaced.

The investors collectively own 5 percent of the $277 billion company and have been adamant in their demand that Gates be replaced, especially now that CEO Steve Ballmer has announced he will retire within a year.

According to Sky News, in spite being one of the world's most valuable technology companies, Microsoft's shares have remained fairly static over the past 10 years as the company has struggled to keep up with ever growing competitors Apple and Google.

Gates, 57, has been increasingly lowering his profile at Microsoft and currently owns 4.5 percent of the company (from 49 percent in 1986).

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