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IT giant Microsoft on Tuesday named India-born Satya Nadella as its new CEO Tuesday, replacing Steve Ballmer who will retire in August.
46-year-old Nadella becomes the third leader in the software company's 39-year history after Bill Gates and Steve Ballmer.
Nadella, a 22-year Microsoft veteran, has been an executive in some of the company's fastest-growing and most-profitable businesses, including Office and its server and tools business.
Microsoft also said John Thompson, lead independent director, would succeed Gates as chairman. Gates will assume a new role as technology adviser and retain a seat on the board, the company said in a statement.
Shares of the world's largest software maker were up 1.1 percent in pre-market trading of New York Stocks Exchange following the news.
