Microsoft to announce new president Wednesday

From CNNfn Correspondent Steve Young

SEATTLE, Washington (CNN) -- Microsoft is expected to announce a major change near the top of its organizational chart Wednesday morning.

According to two sources inside the company -- and a third person close to the situation -- Richard Belluzzo will be named company president. Microsoft would neither officially confirm nor deny the report Tuesday.

Belluzo currently is vice president of the company's personal services and devices group. Before joining Microsoft in September, 1999, he was CEO of Silicon Graphics, Inc (SGI).

Steve Ballmer is the company's current president as well as its CEO. Bill Gates is chairman and chief software architect.

A source indicates official confirmation could come between 3 and 6 a.m. EST, but that there might be no official news until close to noon.

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