Microsoft Corp. Chief Executive Satya Nadella will also assume the role of company chairman, the company said Wednesday.
The move marks the second year in a row Microsoft’s
board has undergone significant change after co-founder Bill Gates last year announced he was stepping down three months after having been re-elected to the board.
Nadella, 53 years old, took over as Microsoft CEO in 2014 and helped restore the software company’s fortunes, in part by betting on the company’s cloud-computing business that has seen strong growth.
He turned Microsoft into America’s second-largest company by value after Apple Inc. Microsoft now has a market value of topping $1.9 trillion.