Investors’ persistence in pushing out Gates from the chairman position provoked mixed reactions from other shareholders.

 "This is long overdue. Replacing the old guard with some fresh eyes can provide the oxygen needed to properly evaluate their corporate strategy," said Todd Lowenstein, a portfolio manager at HighMark Capital Management, which owns Microsoft shares. Kim Caughey Forrest, senior analyst at Fort Pitt Capital Group has a different view and suggested that this is not the time for Microsoft to ditch Gates as he could play a larger role.

Microsoft made a net profit of $22 billion last fiscal year, making it one of the world's most valuable technology companies. But with the decline in personal computers as the demand for Smartphones and tablets are increasing, the shares of Microsoft have been growing static for a decade, making the company lose ground to Apple Inc and Google inc in its move towards mobile computing.

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