(Redmond, WA) -- Big changes are going down at Microsoft.
Satya Nadella is being named as the company's new CEO. Nadella, who previously served as Executive Vice President of Microsoft's Cloud and Enterprise group, succeeds the retiring Steve Ballmer as CEO.
The company has also announced that Bill Gates will step down as chairman of Microsoft and will become a technology adviser to the software giant. John Thompson will take over as Microsoft chairman.