Microsoft appoints CEO Satya Nadella as president By Reuters

© Reuters. FILE PHOTO: Microsoft CEO Satya Nadella reacts as he attends Microsoft’s “Young Innovators Summit” in New Delhi, India, February 26, 2020. REUTERS / Anushree Fadnavis

(Reuters) -Microsoft Corp on Wednesday appointed chief executive Satya Nadella as new chairman, replacing John Thompson.

Nadella, who succeeded Steve Ballmer as CEO in 2014, has been instrumental in expanding its business, including billion dollar acquisitions like LinkedIn, Nuance Communications (NASDAQ 🙂 and ZeniMax.

The company said Thompson, who took over as chairman of software giant Bill Gates co-founder in 2014, will serve as the lead independent director.

The senior executive change comes just over a year after Gates resigned from the board, saying he would focus on the philanthropic work of the Bill and Melinda Gates Foundation, one of the largest charities in the world.

The company said last month it investigated Gates’ involvement with an employee nearly 20 years ago after learning in 2019 that he had attempted to start a romantic relationship with the person.

Microsoft (NASDAQ 🙂 had refused to say whether its board of directors had decided that Gates should leave.

The company also declared a quarterly dividend of 56 cents per share payable on September 9.

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