In a press release, Microsoft said the board unanimously elected Nadella to the new position. He replaces John Thompson, who will move into a lead independent director role, on the heels of a blockbuster fiscal year — and as the company approaches a $2 trillion market capitalization. Apple has been the only company to reach that value.
Microsoft has a typically busy year ahead of it, starting with its expected unveiling of anext week. The company is also in the midst of rolling out its newest gaming systems, the Xbox Series X and Series S — which have sold out within hours of nearly every restock since last year.
Microsoft didn’t immediately respond to a request for comment.