It’s remarkable what some $2 billion in coins gets you these days! ValueAct Capital chose Microsoft as its next target, injected in a little dough, and has now been granted a seat in the company’s board.
Oh, and in between, they also had a substantial hand in ousting Steve Ballmer as CEO.
Amid rumors that the investment firm wants Microsoft to put more focus on its cloud services and Office productivity suite, official confirmation has now come out that ValueAct Capital president Mason Morfit has been added to the board and its audit committee.
For those of you keeping count, the board now has 11 members.
John Thompson, chairman of the board confirmed the news today, saying:
“We’ve had the opportunity to work with Mason over the past six months, and we look forward to working with him more closely as a member of the board. Mason brings valuable insights given his financial background, his extensive experience as a public company director and his perspective as a significant Microsoft shareholder.”
ValueAct bought a $2 billion stake in Microsoft last April, and soon afterwards came murmurs that it was lobbying for a seat on the company’s board of directors.
Microsoft signed a cooperation deal with ValueAct back in September, officially inviting Morfit to join the board. What remains to be seen is if the newest board member will vie for more changes at the software titan in immediate future.
Let’s just hope the company does not sacrifice long term viability for short term gains.