Microsoft Corp has announced that the board’s independent directors unanimously elected chief executive officer Satya Nadella to the role of board chair, replacing John W Thompson who took over as chairman from co-founder Bill Gates in 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 Thompson will serve as lead independent director, a role he held previously from 2012 to 2014.
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.
In addition to these role changes, the board declared a quarterly dividend of $0.56 per share, payable on September 9, 2021.