Microsoft names India-born CEO Satya Nadella as company’s Chairman

By: |
June 17, 2021 11:43 AM

Microsoft Corp on Wednesday announced that the board's independent directors unanimously elected Nadella to the role of board chair, and unanimously elected John W Thompson as the lead independent director, a role he held previously from 2012 to 2014.

satya nadellaNadella had succeeded Steve Ballmer to become Microsoft's CEO in 2014. (Photo source: Reuters)

Microsoft’s India-born CEO Satya Nadella has been named the company’s Chairman, an additional role in which he will ”lead the work to set the agenda for the board.”

Microsoft Corp on Wednesday announced that the board’s independent directors unanimously elected Nadella to the role of board chair, and unanimously elected John W Thompson as the lead independent director, a role he held previously from 2012 to 2014.

”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,” the company said in a statement.

Nadella, 53, succeeds Thompson, who as the lead independent director, will retain significant authority including providing input on behalf of the independent directors on board agendas, calling meetings of the independent directors, setting agendas for executive sessions, and leading performance evaluations of the CEO, the technology giant said.

In addition to these role changes, the board declared a quarterly dividend of USD 0.56 per share. The dividend is payable September 9, 2021, to shareholders of record on August 19, 2021.

Nadella had succeeded Steve Ballmer to become Microsoft’s CEO in 2014

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1PlayStation 5 versus Xbox Series X: Seagate storage expansion card tips the scales in Microsoft’s favour
2Google Play Store revises content policy, places ‘sugar dating’ apps under ban
3Huawei launches flagship P50 smartphone series with HarmonyOS: Features, price and availability