Microsoft names CEO Satya Nadella as company's chairman

Washington:Microsoft Corp. has named Chief Executive Officer (CEO) Satya Nadella as its new chairman.

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

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. As lead independent director, Thompson 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, it added.

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 Aug. 19, 2021. The ex-dividend date will be Aug. 18, 2021.India-origin Nadella took over as the CEO of Microsoft in 2014 from Steve Ballmer. (UNI)