|Microsoft names CEO Nadella to chair the board|
Jun. 16, 2021 8:10 PM ET Microsoft Corporation (MSFT) By: Jason Aycock, SA News Editor
Microsoft (NASDAQ: MSFT) CEO Satya Nadella has been named chair of the board.Nadella was a unanimous selection of the independent directors, and he takes over the chair from John Thompson, former CEO of Symantec.Thompson will resume the role of lead independent director, which he held from 2012-2014 (at which time he replaced Bill Gates as chair while Nadella replaced Steve Ballmer as CEO)."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," Microsoft says."As lead independent director, 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."