BIGWIG CHANGES: Investors still bullish on Microsoft, Gates.(Brief Article)

Pensions & Investments, January, 2000 by Barreto, Susan

REDMOND, Wash. -- Institutional investors cheered Bill Gates' Jan. 13 announcement that he was promoting Steve Ballmer to chief executive officer. The move freed Mr. Gates to focus on his first love, software development, and the challenge of the Internet, the areas where he could add the most value, they said.

Although Microsoft Corp. has a number of challenges to negotiate before its stock price hits higher levels, shareholders said, institutional investors have not lost faith in Mr. Gates' Midas touch when it comes to creating technology and making money. And they are far more focused on the company's Internet plans and the management change than on possible outcomes of the company's antitrust battle with the Justice Department. In addition to its...

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