independent

Saturday 19 April 2014

Microsoft names Nadella to succeed Balmer as CEO

Satya Nadella, executive vice president, Cloud and Enterprise, addresses employees during the One Microsoft Town Hall event in Seattle, Washington in this July 11, 2013 photo made available to Reuters on January 30, 2014. Microsoft Corp's board is preparing to name internal cloud-computing head Satya Nadella as the software company's next chief executive, Bloomberg reported on Thursday, citing unnamed sources it said were briefed on the CEO search process.  REUTERS/Microsoft/Handout
Satya Nadella

Microsoft named company veteran Satya Nadella as its next CEO, ending a longer-than-expected search for a new leader after Steve Ballmer announced his intention to retire in August.

Nadella is only the third CEO in Microsoft's 39-year history, following co-founder Bill Gates and Ballmer.

Microsoft also said John Thompson, lead independent director, would succeed Gates as chairman. Gates will assume a new role as technology adviser and retain a seat on the board, the company said in a statement.

Shares of the world's largest software maker were up 1.1 percent in premarket trading following the news.

The choice of Nadella was widely expected, and investors and analysts are already weighing how effective the 22-year veteran will be in re-igniting the company's mobile ambitions and satisfying Wall Street's hunger for cash.

Microsoft faces a slow erosion of its PC-centric Windows and Office franchises and needs to somehow challenge Apple Inc and Google Inc in the new realm of mobile computing. At the same time, some investors are campaigning for retrenchment and a bigger cut of the company's massive cash pile.

Most agree that Nadella's background in creating Microsoft's Internet-based, or "cloud," computing services makes him a safe pair of hands to take the company forward, but there remains a question over his ability to make Microsoft a hit with consumers or with impatient shareholders.

Reuters

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