Reuters: Global Markets: Microsoft shares fall following departure of key executive

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Microsoft shares fall following departure of key executive Nov 13th 2012, 18:23 By Sarah McBride SAN FRANCISCO | Tue Nov 13, 2012 1:23pm EST SAN FRANCISCO (Reuters) - Shares of Microsoft Corp MSOFT.O slid on Tuesday after the surprise departure of a key executive. The shares were down almost 3 percent by early afternoon, trading just above $27. Microsoft on Monday night announced the departure of Steve Sinofsky, a 23-year veteran of the company and head of its flagship Windows unit, just two weeks after launching Microsoft's flagship Windows 8 operating system. Shareholders see Sinofsky's departure as the loss of the driving force behind Microsoft's biggest product, analysts said, and fear that Chief Executive Steve Ballmer is driving out talent just as the company needs it most. "Sinofsky may have ruled the kingdom with an iron fist, but he performed amazingly well in rescuing Windows following Vista," Wells Fargo analysts said in a research note on Tuesday, referring to Microsoft's previous operating system. "While we think Windows 8 and Surface have promise, there is still a ton of work ahead to catch iOS and Android."

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