Bill Gates Steps Down As Microsoft Chairman

Microsoft named Satya Nadella as its next chief executive officer on Tuesday, ending a longer-than-expected search for a new leader after Steve Ballmer announced his intention to retire in August.

Nadella is only the third CEO in Microsoft’s 39-year history, following co-founder Bill Gates and Ballmer.

Microsoft also announced that John Thompson, lead independent director, will succeed Gates as chairman. Gates will assume a new role as “technology advisor,” the company said in a statement. As technology advisor, Gates will apparently take on a more active responsibility in shaping Microsoft products.

Nadella, who has been with Microsoft since 1992, ran Microsoft’s cloud computing team, a bright spot for Microsoft over the past several years. Microsoft announced its new leader with a slick website, which features video interviews with Nadella, Ballmer, Gates and Thompson.