Fri. Mar 29th, 2024
Microsoft CEO Satya Nadella

Microsoft Corporation promoted Chief Executive Officer Satya Nadella as their board chairman, an additional role  in which he will be leading the work and setting the agenda for the board.

Nadella, 53, is the successor of John Thompson. Thompson will return to the post of lead independent director, a position he was holding before becoming the chairman in 2014, Microsoft said Wednesday in a statement.

Satya Nadella was appointed as a CEO in February 2014. “Thompson, 72, has been scaling back his work as chairman over the past few years, ” Microsoft said. The two have been in talks about their new roles since last fall.

When Nadella  became the CEO, Bill Gates stepped down from the role of chairman of the company that he co-founded and Thompson was roped in to replace him. The intent behind this decision was that Nadella would benefit from mentoring by Thompson, a technology executive for many years.

Apart from these changes in power roles, the board declared a quarterly dividend of USD 0.56 per share.The company’s shares have risen up more than sevenfold and its market value will be $2 trillion as Microsoft has again retained the position of the top technology companies.

Nadella, the company’s third CEO, will become the third chairman after Gates and Thompson. Steve Ballmer, the CEO before Nadella, never became the chairman as Gates kept that title for Ballmer’s entire tenure.

 

 

By Harshita Sharma

I bring to you updates from business, policy and economy spectrum.

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