Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Janet I. Tu.
May 8, 2013 at 1:20 PM
Microsoft names Business division CFO Amy Hood new company CFO
[Read the full, updated story here.]
Amy Hood, most recently CFO of Microsoft’s Business division, has been named Microsoft’s new chief financial officer.
Hood, 41, becomes CFO effective immediately, according to a news release from Microsoft. Hood is the first woman to hold the position and the appointment makes her the highest-ranking woman at Microsoft.
She succeeds outgoing CFO Peter Klein, who had announced last month that he would be leaving at the end of the fiscal year in June. Klein will remain at Microsoft through then to ensure a smooth transition, the company said.
“Amy brings the right talents and experiences to the role as we continue to strengthen our focus on devices and services,” CEO Steve Ballmer said in the news release. “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.”
In her position, Hood, who joined Microsoft in 2002, oversaw one of the company’s biggest revenue-generating divisions. The division, which includes Office, generated $24 billion in sales last fiscal year. As CFO of the division, Hood was also “deeply involved in the strategy development and overall execution of the company’s successful acquisitions of Skype and Yammer,” according to the release.
Before that, she had run the strategy and business development team in the Business division, and earlier served as chief of staff in the Server and Tools business. She has also worked in the investment banking and capital markets groups at Goldman Sachs and holds degrees from Duke and Harvard universities.
“I’m excited to step into this role and look forward to working closely again with our investors and shareholders,” Hood said in the release. “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.”