Microsoft Announces Board Changes & Quarterly Dividend Increase

MicrosoftMicrosoft Corp. on Wednesday, September 17th 2014  announced that Teri List-Stoll, EVP & CFO of Kraft Foods Group Inc., & Charles W. Scharf, CEO of Visa Inc., have been appointed to the company’s board of directors & will join the board effective Oct. 1, 2014. The company also announced that Dave Marquardt and Dina Dublon have decided not to seek re-election to the board of directors & will retire from the board at the expiration of their current term following the annual shareholders meeting in December.

Microsoft also announced its board of directors declared a quarterly dividend of $0.31 per share, reflecting a 3-cent, or 11 percent, increase over the previous quarter’s dividend. The dividend is payable Dec. 11, 2014, to shareholders of record on Nov. 20, 2014. The ex-dividend date will be Nov. 18, 2014. “As we continue to focus on the company’s transformation and the board continues to evaluate capital strategy options, this dividend increase is another step in our ongoing commitment to increase capital returns to shareholders,” said Amy Hood, chief financial officer of Microsoft.

“I’m excited to have both Teri and Charlie joining our board,” said Satya Nadella, CEO of Microsoft. “Teri brings exceptional financial and operational expertise, as well as great insights from her two decades of experience in consumer and retail industries. Charlie, as a sitting CEO of a large global business, brings additional strategic and operational depth to the Microsoft board, as well as a deep understanding of how commerce is changing globally.”

In addition to List-Stoll and Scharf, Microsoft’s board of directors consists of John W. Thompson, Microsoft chairman & CEO of Virtual Instruments; Dina Dublon, former CFO of JPMorgan Chase; Bill Gates, Microsoft founder and technology advisor; Maria M. Klawe, president, Harvey Mudd College; David F. Marquardt, general partner at August Capital; G. Mason Morfit, president, ValueAct Capital; Satya Nadella, Microsoft CEO; Charles H. Noski, former VC of Bank of America Corp.; Dr. Helmut Panke, former chairman of the board of management at BMW AG; & John W. Stanton, chairman, Trilogy Equity Partners & Trilogy International Partners.

 

Filed in: Business, industrial Power, IT Magazine, News, Technology News

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