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Microsoft Names Satya Nadella as CEO, Gates to be Technology Advisor

Microsoft names Satya Nadella, a 22-year veteran of the company, as its new CEO to replace outgoing chief Steve Ballmer effective immediately.

Microsoft names Satya Nadella as its new CEO to replace outgoing chief Steve Ballmer effective immediately. Nadella is a 22-year veteran of the company. Ballmer says, "He's got a technical background and perhaps more importantly a remarkable ability to see opportunities within the marketplace." Microsoft Chairman Bill Gates will take a more hands-on roll as Technology Advisor. Gates will devote a third of his time to product development. Board Member John Thompson will replace Gates as Chairman of the Board. TheStreet's Ruben Ramirez has details from Wall Street.

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