Microsoft's merger tsar departs
Published: 22 Sep 2003 11:05 BST
A former investment banker who oversaw Microsoft's merger and acquisition strategy has left the company, the software maker confirmed on Friday.
Richard Emerson, a former managing director at international investment bank Lazard Freres, was hired by Microsoft in late 2000 to serve as vice president of corporate development and strategy, reporting to chief executive Steve Ballmer.
A Microsoft representative said Emerson left the company on 31 August, and there are no plans to replace him. The corporate development function will now report through chief financial officer John Connors.
In September 2002, Microsoft disclosed that it had loaned $12m (£7.4m) to Emerson when he was hired away from Lazard Freres. At the time, Microsoft said it planned to stop making such loans, which are now prohibited under the Sarbanes-Oxley Act of 2002.
As part of its annual proxy, filed on Thursday, Microsoft noted that Emerson had repaid his loan along with $1.4m in interest by surrendering 1,134,064 vested options.
Did you find this article useful?
52 out of 103 people found this useful
- Share this article:
