Microsoft says Nadella will become both chairman and CEO

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Satya Nadella, chief executive of Microsoft Corp., will also take on the role of company chairman, the company announced on Wednesday.

The move marks the second year in a row Microsoft’s MSFT, -0.38% board has changed significantly after co-founder Bill Gates announced his resignation three months after being re-elected to the board last year.

Nadella, 53, took over the position of Microsoft CEO in 2014 and helped restore the software company’s happiness, including by banking on the company’s rapidly growing cloud computing business.

He made Microsoft the second largest US company after Apple Inc. Microsoft is now valued at over $ 1.9 trillion.

An expanded version of this story is available on WSJ.com

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