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.
India-born Nadella, who replaced Steve Ballmer as Microsoft CEO in 2014, has been instrumental in scaling up the Redmond, Washington based company including billion dollar acquisitions like Linkedin, Nuance Communication and Zenimax.
“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 software giant said in a statement.
Thompson, who took over as chairman from Bill Gates in 2014, will serve as lead independent director, Microsoft said. 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, the technology giant said.
The Microsoft 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.