Alan Mulally Won’t Be Next Microsoft CEO, Market Cap Drops $12B

Many Microsoft investors have dumped their stocks after it was revealed that the current Ford President and CEO Alan Mulally will not be joining the company as their next CEO. Edsel Ford II stated that Alan would be staying with his current position through to the end of 2014, putting Alan well outside the current 12 month range that the current Microsoft CEO has proposed to find a replacement.

The news say Microsoft taking a 3.5% hit, loosing them $1.43 per share. or to sum that up for you, Microsoft just lost $12 billion worth of value over night, leaving them at a value of $38.94 per share. The company is hardly about to go bust of course, this is just the usual ups and downs for a company of this size, but it shows just how eager the world is to learn who will take the big seat.

Let’s keep in mind that this is just based on Edsel Ford II’s statement, Alan Mulally could still be in the running, although it does seem unlikely now. Now it looks like Microsofts own Satya Nadella is the front running candidate.

Thank you TechCrunch for providing us with this information.