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Microsoft on Tuesday announced the promotion of Satya Nadella as its new chief executive officer, who takes over the reigns of retiree Steve Ballmer. The Indian-born Nadella was formerly the executive vice president of its Cloud and Enterprise group. The tech giant also announced that founder Bill Gates would step down as chairman to become a technology adviser. Taking his place is John Thompson, a lead independent director. Microsoft has slowly lost ground in the industry as consumers move away from traditional PC devices to mobile devices. Nadella is a native of Hyderabad, India and earned degrees from Mangalore University, the University of Wisconsin and the University of Chicago.
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