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Microsoft CFO Lidell Resigns, Klein Named As Successor
10:35 AM EST Wed. Nov. 25, 2009
Liddell, 51, who has served as CFO since 2005, said he is "looking at a number of opportunities that will expand his career beyond being a CFO," according to a Microsoft statement. The company did not provide any more information about the reasons for Liddell's departure.
Liddell informed Microsoft of his decision last Thursday, according to a document filed with the Securities and Exchange Commission.
During Liddell's tenure Microsoft has reduced its costs by $3 billion in the last fiscal year compared with its original plan and returned $14 billion to shareholders through dividends and stock buy-backs, the company said.
Liddell, a New Zealand native, came to Microsoft after serving as CFO at International Paper Co. and, before that, CEO of New Zealand-based Carter Holt Harvey Ltd.
Klein, 47, has worked at Microsoft since February 2002. Before becoming CFO of the Business Division he served as CFO of the company's Server and Tools Business. Before joining Microsoft Klein held corporate finance positions at McCaw Cellular Communications, Orca Bay Capital, and several startups including HomeGrocer.com.
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