Microsoft Corp. named Chief Govt Officer Satya Nadella as board chairman, strengthening his affect on the world’s largest software program maker after greater than seven years as the highest govt.
Nadella, 53, succeeds John Thompson, who will return to the function of lead impartial director, a place he held earlier than being named chairman in 2014, Microsoft mentioned Wednesday in a press release.
The change is a vote of confidence in Nadella, who was appointed CEO in February 2014. Thompson, 72, has been scaling again his work as chairman over the previous few years, Microsoft mentioned. The 2 have been discussing the brand new roles since final fall.
When Nadella took the CEO job, Invoice Gates stepped down as chairman of the corporate he co-founded, considerably lowering his function at Microsoft, and Thompson was tapped to switch him. The concept was that Nadella would profit from mentoring by Thompson, a know-how govt for a number of many years.
Microsoft has undergone a rebirth throughout Nadella’s management, recovering from failures within the cell phone and web search market, in addition to a waning of the significance of its flagship Home windows working system. Nadella has refocused the corporate round cloud computing, cellular purposes and synthetic intelligence whereas respiration new life into the Workplace software program franchise by shifting it extra to the cloud and to different working techniques.
The corporate’s shares have soared greater than sevenfold and its market worth is approaching $2 trillion as Microsoft has been restored to the ranks of the highest know-how firms.
Nadella, the corporate’s third CEO, will even be the third chairman in Microsoft’s historical past, following Gates and Thompson. Steve Ballmer, the CEO earlier than Nadella, by no means held the chairmanship as Gates stored that title for Ballmer’s whole tenure.
Thompson will stay energetic as lead impartial director, overseeing Nadella’s compensation, succession planning, governance and board operations, Microsoft mentioned within the assertion.