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In a significant decision Microsoft Corp has announced that Indian American 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.
According to various media reports, 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.
