Reuters - Microsoft Corp's (MSFT.O) board stood behind Chief Executive Officer Steve Ballmer on Thursday, defending its longtime leader after influential hedge fund manager David Einhorn touched off a debate by calling for his dismissal.
The fund manager, who made his name warning about Lehman Brothers Holdings Inc's (LEHMQ.PK) financial health before the investment bank's collapse, accused Ballmer on Wednesday evening of being stuck in the past, launching the sharpest attack yet by a high-profile investor against the company's leadership.
Einhorn's comments, which echo what some investors have said for some years in private, caused a stir on Wall Street and helped Microsoft shares climb 2 percent on Thursday to $24.67.
"His continued presence is the biggest overhang on Microsoft's stock," Einhorn told fellow fund managers at the annual Ira Sohn Investment Research Conference in New York.
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Microsoft board backs Ballmer over Einhorn
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