The software giant, which usually makes senior executive appointments from within the company, announced that it will 'consider both internal and external candidates to fill the CFO position.'

Connors has served as CFO for the past five years, having joined Microsoft 16 years ago. He has left the software giant to become a partner at Seattle-based venture capital firm Ignition Partners, which was created by former executives from Microsoft and wireless company McCaw.

'John has done an awesome job building a world-class finance organization for Microsoft, and leaves behind him a very capable team,' said Microsoft CEO Steve Ballmer.