The technology industry would be keeping a close eye on the search for Microsoft's next chief executive officer. Sources told Reuters that investors wanted a turnaround specialist to head the firm after current CEO Steve Ballmer would retire sometime this year.

While the largest software maker in the world still continued to be profitable, it faced a challenge in the mobile device space. Rival companies like Apple and Google continued to dominate the field. Despite a reorganization plan announced in July to make the company a leader in devices and services, investors remained unconvinced that the revamp would work,

Reuters reported that most of the investors had already lost confidence in the current leadership. After news of Ballmer's retirement broke out, shares of Microsoft jumped to 7%.  

Earlier this week, sources told Reuters that top investors in Microsoft wanted the board to put Alan Mulally and Mike Lawrie to be on the CEO shortlist. Mulally is the Chief Executive Officer of Ford Motor Co while Lawrie heads Computer Sciences Corp.