Indian born Satya Nadella, who became the CEO of Microsoft after replacing Steve Ballmer, now becomes the chairman of the company in place of John Thompson.John Thompson is now the lead independent director of Microsoft.
The promotion of Satya Nadella is a reflection of the fact that he, as CEO of the company, changed the largest software developing company of the world drastically for the good.
After taking over as CEO, Nadella scaled up the business by acquiring billion dollar companies like LinkedIn, Nuance Communications and ZeniMax. The company also declared a quarterly dividend of 57 per cent share payable by 9th September.
Microsoft released a statement saying, “The board credits Mr. Nadella for his tremendous progress driving cultural change across the organization, especially given the unprecedented impact of Covid-19 on our business and our people.” Regarding his new role as the chairman of the company, Microsoft stated “In this role, Nadella will lead the work to set the agenda for the board, leveraging his deep understanding of the business to elevate the right strategic opportunities and identify key risks and mitigation approaches for the board’s review”
It s noteworthy that under Nadella’s leadership, the software giant became one of the world’s most valuable public company. Another interesting fact is that Microsoft’s stocks increased by 600% since Nadella took charge as CEO.
Satya Nadella himself has 1.6 million shares in the company’s stocks, making him one of the top individual shareholders of Microsoft.
The change in the leadership came one year after Bill Gates stepped down from the board. Mr. Gates has said that his focus will shift towards philanthropic works of the Bill and Melinda Gates Foundation, which is one of the world’s largest charity. It is also being said that the company started a probe into the romantic relationship of Bill Gates and an employee.