It’s Official! The New Microsoft CEO Is Satya Nadella

Bill Gates is out as Microsoft's chairman

   

It’s Official! The New Microsoft CEO Is Satya Nadella

The search for a new chief executive to replace outgoing Microsoft (MSFT) CEO Steve Ballmer is over.

satya nadella 300x260 Its Official! The New Microsoft CEO Is Satya Nadella
Source: Wikipedia

On Tuesday, the software giant announced that the new Microsoft CEO will be Satya Nadella. The company broke the news of the new Microsoft CEO on Twitter (TWTR). Nadella’s selection as the new Microsoft CEO caps a search that began las August when Ballmer said he planned to step down and retire, NBC News notes.

MicrosoftNew185 Its Official! The New Microsoft CEO Is Satya Nadella
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As the new Microsoft CEO, Nadella becomes just the third chief executive in MSFT history.

In addition to announcing Nadell as the new Microsoft CEO, the company indicated that co-founder Bill Gates would also be replaced as chairman. Independent MSFT director Jim Thompson will succeed Gates as chairman. Gates will now serve as a technology advisor at Microsoft.

A number of candidates had been considered to become the new Microsoft CEO, including Ford’s (F) Alan Mulally, but Mulally announced earlier this month that he would remain at the nation’s second largest automaker through the end of this year.

Last week, rumors surfaced suggesting that the MSFT board was close to tapping Nadella as the new Microsoft CEO.

A number of MSFT shareholders had been pressuring the company to oust Gates from the chairman’s position to give a new Microsoft CEO a free hand to set strategy.

MSFT stock climbed almost 1% in Tuesday morning trading.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/02/official-new-microsoft-ceo-satya-nadella/.

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