Microsoft's Amy Hood named CFO as Peter Klein departs
If you'll recall, Microsoft revealed as a footnote to its Q3 2013 earnings report that then-CFO Peter Klein would be stepping down. Today, we're learning a bit more about the transition. Starting right now (well, a few minutes ago), corporate vice president Amy Hood has been moved up to chief financial officer, and while Klein is set to remain onboard through June, Hood is grabbing the title right away. Prior to this role, Hood served as CFO for Microsoft's Business Division, and has been with the company for just over a decade. Asked if she had any immediate plans, she softly nodded and whispered: "I'm bringing Clippy back." Just kidding. But that would've been awesome.
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Microsoft names Corporate Vice President Amy Hood as new Microsoft chief financial officer
May 08, 2013
Former CFO for the Microsoft Business Division succeeds outgoing CFO Peter Klein.
REDMOND, Wash. - May 8, 2013 - Microsoft Corp. today announced that Amy Hood was named Microsoft chief financial officer, succeeding outgoing CFO Peter Klein who will remain at Microsoft through the end of June to ensure a smooth transition. Hood becomes CFO effective immediately.
"Amy brings the right talents and experiences to the role as we continue to strengthen our focus on devices and services," said Steve Ballmer, Microsoft's chief executive officer. "She has been an instrumental leader in the Microsoft Business Division (MBD), helping lead the transition to services with Office 365 and delivering strong financial and operational management throughout her time on the business."
Hood, 41, joined Microsoft in December 2002 and currently serves as CFO of MBD, overseeing all financial strategy, management and reporting for the $24.1 billion business. During her time as CFO of MBD, Hood was also deeply involved in the strategy development and overall execution of the company's successful acquisitions of Skype and Yammer. Previously, Hood served as chief of staff in the Server and Tools group, then ran the strategy and business development team in MBD before becoming CFO of the division in January 2010.
"I'm excited to step into this role and look forward to working closely again with our investors and shareholders," Hood said. "Peter has built a world-class finance team, and I am set up well to continue the company's strong discipline around costs and focus on driving shareholder value."
Before joining Microsoft as a part of the investor relations group, she worked at Goldman Sachs in various roles including investment banking and capital markets groups. She has a bachelor's degree in economics from Duke University and a master's degree in business administration from Harvard University.
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
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