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Tech giant Microsoft Corp has announced chief executive officer Satya Nadella will be the chairman of the company. He will take the additional role where he will set the agenda for the board in a leadership position.
Satya Nadella was elected unanimously as the chairman of the Microsoft Board by the board’s independent directors. Similarly, John W Thompson was also elected as the lead independent director unanimously. Thompson had previously held the position from 2012 to 2014.
It is only the second time in twenty years that the same person will hold the key responsibilities of Microsoft CEO and chairman. Before Nadella, the founder of Microsoft Bill Gates held the two roles.
Nadella has led the tech giant to become one of the most valuable companies in the world. He has been serving as the chief executive officer since 2014 and the company has grown exemplary under his leadership. The cloud computing, mobile applications, and artificial intelligence segments have proven to be profitable for the company. Under the leadership, the share prices have increased more than seven times and the market cap of the company rose close to $2 trillion.
“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,” – official statement by Microsoft.
On the other hand, Thompson, 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.
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