Microsoft Corporporation (NASDAQ:MSFT) announced that Kurt DelBene has been named executive vice president of Corporate Strategy and Planning reporting to Microsoft Chief Executive Officer Satya Nadella.
DelBene is returning to Microsoft, where he was most recently president of the Microsoft Office Division. After leaving Microsoft in 2013, he then served as senior advisor to the Secretary of Health and Human Services where he was appointed by President Obama to oversee implementation and improvement of Healthcare.gov. He most recently has been a venture partner at Madrona Venture Group, concentrating on investing and advising in early stage, technology-focused startups in the Pacific Northwest.
“Kurt brings extensive background in business strategy, engineering and customer solutions, as well as a proven track record of delivering strong results in complex environments,” Nadella said. “His experience at Microsoft, recent work on healthcare.gov, and work with startups here in Seattle give him a unique perspective for this new role.”
DelBene will serve on the Senior Leadership Team, and will lead both cross-engineering and cross-business strategy and execution initiatives with an emphasis on opportunities that span product and engineering boundaries. In this role, he will focus on identifying future investments and opportunities; working with other senior executives to ensure end-to-end execution; and assisting the CEO in communicating, executing and sustaining strategic initiatives.
“I’m excited to rejoin Microsoft,” DelBene said. “My time in Washington and in working with startups has brought a fresh appreciation for the challenges our industry faces, and the ways Microsoft has the talent and ambition to tackle these challenges in creative ways.”
DelBene is on the board of trustees for Reed College in Portland, Ore., and on the board of directors for Global Partnerships, a nonprofit organization that works to expand opportunities for people living in poverty in developing countries. He earned his MBA from the University of Chicago, a masters of science in operations research from Stanford University, and a bachelor of science in industrial engineering from the University of Arizona. He is married to U.S. Representative Suzan DelBene and has two children.
Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services, devices and solutions that help people and businesses realize their full potential.
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Shares of Microsoft opened today at $41.4 and are currently trading up at $42.05. MSFT has a 1-year high of $50.05 and a 1-year low of $38.51. The stock’s 50-day moving average is $42.23 and it’s 200-day moving average is $44.78.
On the ratings front, Microsoft has been the subject of a number of recent research reports. In a report issued on April 6, Wells Fargo analyst Jason Maynard upgraded MSFT to Buy, with a price target of $48, which represents a potential upside of 15.9% from where the stock is currently trading. Separately, on March 31, Goldman Sachs’ Heather Bellini reiterated a Sell rating on the stock and has a price target of $38.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Maynard and Heather Bellini have a total average return of 9.7% and 18.6% respectively. Maynard has a success rate of 60.0% and is ranked #1199 out of 3574 analysts, while Bellini has a success rate of 73.8% and is ranked #134.
In total, 2 research analysts have rated the stock with a Sell rating, 9 research analysts have assigned a Hold rating and 12 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $41.4 which is 16.4% above where the stock opened today.