Frank Clegg, (left) a long-time leader at Microsoft Corp.'s Canadian subsidiary, will step down from his job at the end of January.
Mr. Clegg, 50, will take a six-month sabbatical from Microsoft Canada Co. of Mississauga. He said he, his wife Davida, and their two daughters plan to travel the world during his sabbatical.
Microsoft said he would return to Microsoft at the end of his sabbatical in an as yet unspecified role.
Microsoft Corp. named David Hemler as Mr. Clegg's replacement. Mr. Hemler, an American, is a 10-year employee with Microsoft.
Mr. Clegg's 15-year tenure as a Microsoft employee has made him a wealthy man, wealth he has often invested in Canadian technology startups.
One of those early investments was The DocSpace Company Inc. of Toronto, which was bought by Critical Path Inc. of San Francisco at the height of the dot-com boom in 1999 for $530-million. Mr. Clegg and Ken Nickerson, a Microsoft Canada colleague at the time, were the source of the first funds beyond the founders and their families for DocSpace's development.
Their bet on DocSpace translated into a payout of several million dollars for both men … [Read the full story in today's Globe and Mail]