NEW YORK ( TheStreet) -- Microsoft (MSFT - Get Report) shares slumped Tuesday following the surprise departure of Steven Sinofsky, who previously served as president of its Windows and Windows Live unit.
Sinofsky, oversaw the recent launch of Windows 8, is being replaced by Julie Larson-Green, who will handle "all Windows software and hardware engineering," and Tami Reller, who will assume responsibility for "the business of Windows."
The stock was losing 3% at $27.14 in recent trades with volume already running above 84 million vs. the issue's trailing three-month daily average churn of 45.3 million.
Interested in more on Facebook? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts