Microsoft Board Shakes Up, More Layoffs Ahead for All Divisions

A board shakeup at Microsoft will see two members depart and two new ones join. The tech giant is also likely to announce another round of layoffs later this week. Long time board members Dina Dublon and Dave Marquardt will depart this December. Teri List-Stoll, CFO of Kraft Foods, and Charles Scharf, CEO of Visa, will join the board in October. Microsoft CEO Satya Nadella said, 'Teri brings exceptional financial and operational expertise, as well as great insights from her two decades of experience in consumer and retail industries. Charlie, as a sitting CEO of a large global business, brings additional strategic and operational depth to the Microsoft board.' The board also declared a quarterly dividend of 31 cents a share. That's three cents more than last quarter. Microsoft announced in July that it would cut 18,000 jobs by next year. The next round will reportedly start this Thursday and cuts will come from all divisions.