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Microsoft Sheds $12B In Market Cap On News That Ford’s Mulally Won’t Be Its Next CEO

December 5, 2013

TechCrunch

Ding. Today investors unloaded Microsoft’s stock following indications that current Ford President and CEO Alan Mulally won’t be its next CEO. Ford board member Edsel Ford II stated that “Alan is staying through the end of 2014,” a timeframe that is past the 12-month range that departing Microsoft CEO set to find his replacement.

Investors, irked that Mulally will not therefore head up the software giant, knocked Microsoft down around 3.5 percent, or around $1.43 per share. At the time of writing, using a share count of 8.35 billion (via Google Finance), the decline in Microsoft’s share price, which can be correlated to the news more or less directly, leaves Microsoft worth around $12 billion less than before.

Yesterday, Microsoft closed at $38.94, a level that it had not seen since 2000. Today the company is trading around the $37.50-60 range, still up more than 40 percent on the year.

If…

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