India-Born Satya Nadella is the new CEO of Microsoft

Microsoft has finally got a new CEO and it is none other than India-born Satya Nadella. The news from the Redmond giant came after months of speculation. “Satya Nadella is appointed as Microsoft's CEO, effective immediately,” read the company announcement. Nadella has replaced Steve Ballmer, who resigned last year. Microsoft co-founder Bill Gates, said, “During this time of transformation, there is no better person to lead Microsoft than Satya Nadella.”

"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,” he added.

In addition, Bill Gates, who was the chairman of the board of directors, will step down from his position and assume a new role on the board as technology advisor. John Thompson is to assume the role of chairman, according to a statement from Microsoft.