Microsoft finally named Satya Nadella as their new CEO to replace Steve Ballmer who had announced his retirement few months ago. Nadella will take in charge as the CEO immediately allowing Ballmer to retire early.

The announcement also included that Bill Gates is stepping down as the Chairman of Microsoft and Microsoft’s lead independent director John Thompson will fill his shoes as the Chairman of the company. Bill Gates official new title is founder and technology advisor for the company.

In an internal memo to Microsoft employees , Satya Nadella said

Today is a very humbling day for me. It reminds me of my very first day at Microsoft, 22 years ago. Like you, I had a choice about where to come to work. I came here because I believed Microsoft was the best company in the world. I saw then how clearly we empower people to do magical things with our creations and ultimately make the world a better place. I knew there was no better company to join if I wanted to make a difference. This is the very same inspiration that continues to drive me today.

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