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Nadella May Be Named as New CEO by Microsoft Board

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Microsoft is still undecided who will be the chief executive, but they’re most likely going to hire Satya Nadella for the job.

According to Reuters, Nadella is Microsoft’s cloud-computing head and according to an inside source the board has been looking for a tech-savvy person to lead the worlds largest software company. Born in 1967 in Hyderabad, India, Nadella was educated in the United States as well India. His tech career began at internet software pioneer, Sun Microsystems and by 1992 he continued his career at Microsoft.

In July last year, Nadella was promoted to executive vice president, of cloud and enterprise when current CEO Steve Ballmer radically re-organized the company. Nadella now runs Microsoft’s fast expanding cloud, or internet-based, computing initiatives.

Sid Parakh, an analyst at fund firm, McAdams Wright Ragen said, “He’s a solid choice,” offering continuity of strategy and proven execution. Some investors had campaigned for an external CEO who might be more likely to shake up the company and reward shareholders with greater dividends and share buybacks, but that did not mean Nadella would be unpopular with Wall Street.

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When the move goes forward, Co-founder Bill Gates will probably step down as chairman and be replaced by lead independent director John Thompson, according to a source that spoke on conditions of anonymity. Gates would remain a director.

Many have called for Microsoft’s co-founder Bill Gates to step down because investors believe Gates is a block to radical change and investor friendly moves. Microsoft’s CEO said the search has taken longer than expected and he expects to retire within a year. Thompson, who leads the four-member CEO search committee, said at the time, he expected the panel to reach a decision “in the early part of 2014″.

The board still has not met to finalize Nadella’s offer and nothing has been signed, the source said. Microsoft declined to comment. For employment at Microsoft, click here.

Image Credit: Reuters

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Jaan Posted by on January 31, 2014. Filed under Business News,Home. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

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