Microsoft named 46-year-old Satya Nadella as its new CEO and assigned co-founder Bill Gates a larger role in the company as a technology adviser. Nadella has been working at Microsoft for 22 years in positions such as vice president of R&D for the online services division and vice president of Microsoft's business division. He took over the server and tools business and is credited for increasing revenues from this division to $20.3 billion in 2013 from $16.6 billion when he took over. As part of the promotion, Nadella gets a pay rise to a base salary of $1.2 million, a maximum annual cash bonus of three times that and a stock award of $13.2 million for next fiscal year. Ex-CEO Ballmer on the other hand, had a salary of $1.3 million last year and opted not to take any stock. He says that he will focus on innovation, "Our industry does not respect tradition — it only respects innovation. We need to prioritize innovation that is centered on our core value of empowering users and organizations to 'do more." He also envisions a future for Microsoft that is cloud centric albeit in a jargon heavy fashion: "I believe over the next decade computing will become even more ubiquitous and intelligence will become ambient. The coevolution of software and new hardware form factors will intermediate and digitize — many of the things we do and experience in business, life and our world. This will be made possible by an ever-growing network…
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