Bill Gates gave up his post of General Director of Microsoft to Satya Nadella
Microsoft has named Satya Nadella as its new CEO and announced that founder Bill Gates will step down as chairman of the company's board.
"During this time of transformation, there is no better person to lead Microsoft than Satya Nadella," said Gates in a prepared statement. "His vision for how technology will be used and experienced around the world is exactly what Microsoft needs as the company enters its next chapter of expanded product innovation and growth."
Microsoft also said that Gates will be working closely with Nadella in a new technology adviser role. Gates will be replaced by current Microsoft board member and former Symantec.
Nadella acknowledged that a main part of his job as CEO will be to speed up the process of bringing innovative products to customers. Microsoft has struggled to adapt to the mobile revolution, as Apple (AAPL, Fortune 500) and Google (GOOG, Fortune 500) have dominated that market. One of his key tasks will be to find a way to integrate the mobile device business of Nokia (NOK), which Microsoft agreed to buy last year.
"I couldn't be more honored to have been chosen to lead the company," Nadella said in a statement. "The opportunity ahead for Microsoft is vast, but to seize it, we must focus clearly, move faster and continue to transform."
Nadella is a 22-year veteran of Microsoft (MSFT, Fortune 500) who has been overseeing various aspects of the company's corporate software business since 1992. Over the past several years, Nadella's cloud and enterprise division has been one of Microsoft's best-performing units.