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Einhorn should be careful what he wishes for: Microsoft is an enormously profitable company, and Ballmer is raking in the money. For this, he has at least decent understanding of that business. It would be tough to find a replacement, other than Gates, who would understand the present business nearly as well as Ballmer. Someone who didn't understand the business could seriously hurt it.

If Einhorn wants Ballmer to do better on some projects, then the result could be one or a few new VPs and projects within Microsoft.

Net Einhorn should be talking about maybe some new VPs, not a new CEO.

Actually, likely Einhorn doesn't know even as much as dip squat about the astoundingly successful parts of Microsoft's business. People who do understand Microsoft's business might want to see Gates return or some new VPs but will be very, VERY careful about getting rid of Ballmer.