Last Updated on 19/06/2021 by Sanskriti
Satya Nadella was elected board chairman, more than after seven years as Microsoft’s top executive bolstering his power at the world’s largest software company Microsoft.
Nadella replaces John Thompson as its new chairman and Thompson will serve as a lead independent director who took over as Chairman from co-founder Bill Gates back in 2014. Nadella, who took over as Microsoft CEO from Steve Ballmer’s place in 2014, has been instrumental in growing the Redmond, Washington-based company’s business, including billion-dollar acquisitions such as LinkedIn, Nuance, communication, and ZeniMax.
It was Nadella’s confidence, who took over as CEO in February of 2014. Thompson, 72, has been trying to reduce his duties as chairman in recent years, according to Microsoft. Since last autumn, the two have been talking about their new duties.
Bill Gates stood aside as chairman of the business he co-founded when Nadella was named for the position of CEO, drastically decreasing his influence at Microsoft, and Thompson was chosen to take the place after Bill Gates. Thompson, a technology leader for decades, was to be Nadella’s mentor.
Nadella has refocused Microsoft on cloud computing, mobile apps, and artificial intelligence, while also giving the Office software business a new lease of life by moving it further to the cloud and to other operating systems. During Nadella’s tenure as CEO, Microsoft has recovered from setbacks in the mobile phone and internet search markets, as well as a decline in the prominence of its flagship Windows operating system.
As Microsoft has been returned to the ranks of the top technological firms, its stock has surged more than sevenfold, and its market worth is nearing $2 trillion.
Nadella, Microsoft’s third CEO, will now be the company’s third chairman, after Gates and Thompson. Before Nadella, Steve Ballmer was the CEO, although Bill Gates retained it during Ballmer’s tenure so he never held the chairmanship.