Software giant Microsoft Corp. (MSFT) said Wednesday that it has appointed corporate vice president Amy Hood, the finance chief of its business division, as its new chief financial officer, effective immediately.
Hood, who becomes Microsoft's first female CFO, succeeds Peter Klein who will remain with the company through the end of June to ensure a smooth transition.
"Amy brings the right talents and experiences to the role as we continue to strengthen our focus on devices and services," said Steve Ballmer, Microsoft's chief executive officer. "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."
While announcing its third quarter financial results last month, Microsoft announced the departure of Peter Klein at the end of the current fiscal year, after nearly four years in the role and 11 years at the company. The company said at that time that it would name a new CFO from its finance leadership team.
Hood, who joined Microsoft as a part of the investor relations group in December 2002, currently serves as the CFO of Microsoft Business Division. During her tenure as CFO of the Business Division, she was also deeply involved in the company's successful acquisitions of Skype Technologies in 2011 and Yammer Inc. last year. Previously, Hood served as chief of staff in the company's Server and Tools division. She became CFO of the Business Division in January 2010.
Before joining Microsoft, Hood worked at Goldman Sachs Group, Inc. (GS).
Hood's appointment comes at a time when Microsoft is grappling with falling demand for personal computers and the disappointing launch of its Windows 8 operating system.
Microsoft shares, which have trade in a range of $26.26 to $33.91 over the past year, closed Wednesday's regular trading session at $32.99, down 32 cents. The stock is gaining a penny in after hours trading.
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