Microsoft’s (MSFT) head of business development Chris Young, who helped orchestrate the software giant’s acquisition of video game maker Activision Blizzard, has resigned from the company.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
No reason for Young’s resignation was given and no successor has been named. The resignation of Young, who had been at Microsoft for four years, was disclosed in a regulatory filing. Previously, Young was the CEO of McAfee, where he led efforts to spinoff the company from chipmaker Intel (INTC).
At Microsoft, Young was a member of the technology giant’s senior leadership team alongside CEO Satya Nadella and chief financial officer (CFO) Amy Hood. He reported directly to Nadella. In 2024, Young was paid $12 million in total compensation, according to the regulatory filing.
Activision Blizzard Purchase
Young was instrumental in Microsoft’s $68.7 billion acquisition of video game publisher Activision Blizzard that closed in 2023. It was the biggest deal ever for the software company. Young also played a role in Microsoft’s expansion of its partnership with artificial intelligence (AI) startup OpenAI and its advertising deal with Netflix (NFLX).
It’s not clear how involved Young was with OpenAI prior to his departure from Microsoft. However, there have been media reports that the relationship between the two companies has become strained. On Jan. 22, it was reported that Microsoft is no longer the exclusive cloud partner of OpenAI.
MSFT stock has risen 13% in the last 12 months.
Is MSFT Stock a Buy?
The stock of Microsoft has a consensus Strong Buy rating among 28 Wall Street analysts. That rating is based on 26 Buy and two Hold recommendations issued in the last three months. The average price target on MSFT stock of $507 implies 13.63% upside from current levels.