URGENT -- Microsoft names Satya Nadella as CEO, replacing Steve Ballmer

USPA News - Technology giant Microsoft Corp. on Tuesday announced its Board of Directors has appointed Satya Nadella as Chief Executive Officer, replacing Steve Ballmer. Founder Bill Gates, meanwhile, has stepped down as chairman of the board and will take on a new role as technology adviser.

"During this time of transformation, there is no better person to lead Microsoft than Satya Nadella," Gates said. "Satya is a proven leader with hard-core engineering skills, business vision and the ability to bring people together. 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." Nadella, who joined Microsoft in 1992 and previously held the position of Executive Vice President of Microsoft`s Cloud and Enterprise group, said he was honored to have been chosen to lead the company and said he would aim to accelerate Microsoft`s ability to bring innovative products to its customers more quickly. "The opportunity ahead for Microsoft is vast, but to seize it, we must focus clearly, move faster and continue to transform," Nadella said.