Microsoft Appoints Amy Hood As New Chief Financial Officer

What do you do as a major, billion dollar corporation when your chief financial officer steps away? You find another one, preferably one you're familiar with. That's what Microsoft has done, after announcing during its Q3 2013 earnings report that existing CFO Peter Klein would be stepping away after June. So, Microsoft is filling his shoes by bringing in an existing vice president, Amy Hood. She's been at Microsoft since 2002, but will take on the role of CFO immediately.

Hood, 41, joined Microsoft in December 2002 and currently serves as CFO of MBD, overseeing all financial strategy, management and reporting for the $24.1 billion business. During her time as CFO of MBD, Hood was also deeply involved in the strategy development and overall execution of the company's successful acquisitions of Skype and Yammer. Previously, Hood served as chief of staff in the Server and Tools group, then ran the strategy and business development team in MBD before becoming CFO of the division in January 2010. "I'm excited to step into this role and look forward to working closely again with our investors and shareholders," Hood said. "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."

Before joining Microsoft as a part of the investor relations group, she worked at Goldman Sachs in various roles including investment banking and capital markets groups. Now, the question becomes Steve Ballmer -- if Windows 8 doesn't explode, will people begin to seek a replacement?