Microsoft names CEO Satya Nadella as new board chairman

Microsoft on Wednesday named Chief Executive Officer Satya Nadella as its new chairman, in place of John Thompson.

Nadella, who took over as CEO in 2014 from Steve Ballmer, has been instrumental in scaling up its business including billion-dollar acquisitions like LinkedIn, Nuance Communications and ZeniMax.

The company said Thompson, who took over as chairman from the software giant’s co-founder Bill Gates in 2014, will serve as lead independent director.

The top-level executive change comes just over a year after Gates stepped down from the board, saying he would focus on philanthropic works of the Bill and Melinda Gates Foundation, one of the world’s biggest charities.