Sources tell Reuters that Microsoft (MSFT) is closing in on its choice to replace outgoing Microsoft CEO Steve Ballmer.
The choice for the next Microsoft CEO was made easier on Tuesday when one candidate bowed out. Ford (F) CEO Alan Mulally, who was generally considered among the top choices, announced that he would continue to helm the nation’s second largest automaker through the remainder of this year.
Sources said that Microsoft’s board was concerned about the corporate culture and management style that Mulally might bring as Microsoft CEO.
Mulally’s exit from the race to become then next Microsoft CEO narrows the field of candidates down to just a few names. According to sources, Microsoft insiders Tony Bates and Satya Nadella and the former CEO of Nokia, Stephen Elop, remain as potential Microsoft CEO candidates.
MSFT stock fell more than 1% on the news of Mulally’s exit from the Micrsoft CEO race, while Ford stock rose more than 1%. MSFT stock has climbed more than 28% since March.