March 20, 2014
/PRNewswire/ -- Microsoft Corp. announced Thursday that
Stephen J. Luczo
, chairman and CEO of Seagate Technology PLC, has stepped down from the company's board of directors.
"It has been a pleasure serving on the Microsoft board, and helping to guide the company through such a historic period of change and reinvention," Luczo said. "With the CEO search completed and Satya off to a strong start, this felt like an appropriate time to make this change so I can turn my full attention to leading Seagate. Seagate and Microsoft have a long history of working together, and I look forward to continued collaboration and partnership under Satya's leadership."
"Steve has been an excellent board member, and I particularly appreciate all of his hard work as a member of the CEO search committee," said
John W. Thompson
, chairman of the Microsoft board. "Steve also played an important role in helping to craft a compensation plan that tightly links CEO pay to shareholder returns, as chair of the compensation committee."
"Steve brought thoughtful industry insights and perspective to the board," said
, founder and technology advisor of Microsoft. "I want to thank him for his contributions to the board and to Microsoft during his tenure. I appreciate his service."
Luczo joined Microsoft's board in
. He served as a member of the CEO search committee established in
to identify the successor to former CEO
. Luczo also served on the compensation and audit committees of the board.
Microsoft's board of directors now consists of 10 members:
Steven A. Ballmer
, former Microsoft chief executive officer;
, former chief financial officer of JPMorgan Chase;
William H. Gates
, Microsoft founder and technology advisor;
Maria M. Klawe
, president of
Harvey Mudd College
David F. Marquardt
, general partner at August Capital;
G. Mason Morfit
, president of ValueAct Capital;
, Microsoft chief executive officer;
Charles H. Noski
, former vice chairman of Bank of America Corp.; Dr.
, former chairman of the board of management at BMW (Bayerische Motoren Werke) AG; and
John W. Thompson
, chief executive officer of Virtual Instruments. Seven of the 10 board members are independent of Microsoft, which is consistent with the requirement in the company's governance guidelines that a substantial majority be independent.
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.