Microsoft has finally come up with a short list of who will succeed Steve Ballmer as its CEO and the important name is expected to be revealed next year. However, the task might not come that easy as the list presents 20 possible names including those who have worked/are working for top companies in the world.

"We're moving ahead well, and I expect we'll complete our work in the early part of 2014," said board member John Thompson in Microsoft Blog.

With the fact that Ballmer is known for being a hard-charging salesman, the company expects to find a CEO who can help shore up his deficiency in predicting technology hits of the future. Under the tutelage of Ballmer, who is expected to officially step down as Microsoft CEO by August next year, the company suffered many setbacks, the most notable of which are those that concern Windows 8. Under his control, Windows 8 received flak for its incompetent features. Users say the operating system was released too early. His investment on an array of tablets, which is called Surface Line, resulted to a $900 million write down and may have been the last straw for the embattled CEO.

"Ballmer's biggest failure is his lack of vision. He showed a lot of fear and derision of any new, emerging product categories," Mark Rolston, chief creative officer at Frog Design, once said.

"That fear rubs on an organization."

In recognition of his shortcomings, Ballmer decided to step down and said that he is "an emblem of an old era, and I have to move on."

Other names that surfaced as Ballmer's replacement are Ford Motor CEO Alan Mulally and Qualcomm's recently named CEO, Steve Mollenkopf, two boomerang employees like Paul Maritz and Stephen Elop and current company insiders Tony Bates and Satya Nadella.