LOS ANGELES - Former Microsoft CEO Steve Ballmer is stepping down from the company's board, closing a chapter on 34 years with the software giant.
Ballmer says he plans to devote more time to his ownership of the Los Angeles Clippers, civic contributions, study and teaching a business class at Stanford in the fall.
Microsoft Corp. published Ballmer's resignation letter on its website Tuesday along with a response from current CEO Satya Nadella thanking him and wishing him well.
The 58-year-old says he plans to hold on to his Microsoft stock and will continue to offer feedback on products and strategy. With 333.3 million shares worth $15 billion, Ballmer's 4 percent stake in the company makes him the largest individual shareholder. A few institutional investors hold slightly more.