August 19, 2014 1:30 pm
Updated: August 19, 2014 2:56 pm

Steve Ballmer steps down from Microsoft board

WATCH: Clippers fans got to meet the team’s new owner, Steve Ballmer, face-to-face Monday at a massive fan rally

TORONTO – Steve Ballmer announced Tuesday he has stepped down from the Microsoft board of directors to concentrate on his new venture with the National Basketball Association (NBA).

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Global News

According to a letter posted to Microsoft’s website, Ballmer’s resignation is effective immediately.

“Given my confidence and the multitude of new commitments I am taking on now, I think it would be impractical for me to continue to serve on the board, and it is best for me to move off,” read the letter.

“The fall will be hectic between teaching a new class and the start of the NBA season so my departure from the board is effective immediately.”

Ballmer purchased the Los Angeles Clippers in August for $2 billion, following the controversy surrounding disgraced former owner Donald Sterling. 

READ MORE: The Internet really wants Steve Ballmer to rename the Clippers the ‘Clippies’

In February, Ballmer retired as CEO of Microsoft, a position he held since 2000.

His previous roles at Microsoft included senior vice president of sales and support, senior vice president of systems software and vice president of marketing. He was with the company for 34 years.

The 58-year-old says he plans to hold on to his Microsoft stock – he says he’s the biggest shareholder outside of index funds – and will continue to offer feedback on products and strategy.

“I bleed Microsoft — have for 34 years and I always will. I continue to love discussing the company’s future,” he wrote in his resignation letter. “I promise to support and encourage boldness by management in my role as a shareholder in any way I can.”

- With a file from the Associated Press

© Shaw media, 2014

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