Microsoft appoints Satya Nadella as its new CEO

Microsoft has announced that Satya Nadella will replace Steve Ballmer as company CEO. Nadella - who has degrees in electrical engineering, computer science, along with an MBA, was the company current cloud chief and also formerly led engineering for Microsoft's Online Services Division and its Business Solutions group (ERP and CRM).

"Today is a very humbling day for me," says Nadella in an internal memo to Microsoft employees. "It is an incredible honor for me to lead and serve this great company of ours." In the broad letter, Nadella outlines why he's at Microsoft, and his 22 year history at the company. "While we have seen great success, we are hungry to do more," he notes. "This is a critical time for the industry and for Microsoft. Make no mistake, we are headed for greater places - as technology evolves and we evolve with and ahead of it. Our job is to ensure that Microsoft thrives in a mobile and cloud- first world."

Steve Ballmer will cease being a full-time Microsoft employee today, but remains on the company's board of directors in a term that runs through November. We'll have to wait until closer to then to see if he stands for re-election. Meanwhile, Microsoft also announced that Bill Gates is stepping down from Chairman of the board to assume a new role as the company's Founder and Technology Advisor. In this capacity, Gates will "devote more time to the company, supporting Nadella in shaping technology and product direction." John Thomson will be the company's new chairman.

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