Microsoft close to naming CEO, Ford's Mulally stays put

Microsoft Corp. is closer to naming a new chief executive, according to a source familiar with the board's thinking, but it lost a front-runner candidate on Tuesday when Ford Motor Co's chief, Alan Mulally, said he would not be going to the software giant, Reuters reports.

Microsoft has said it will appoint a new CEO early this year. The company is searching for a replacement for the retiring Steve Ballmer.

Sources familiar with the process have told Reuters that Microsoft is down to a "handful" of candidates, including one or more outsiders from the tech industry, former Nokia CEO Stephen Elop and insiders Satya Nadella and Tony Bates.

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