Microsoft Corp. has pushed current CEO Satya Nadella as new chairman of the company.

Satya Nadella, who replaced Steve Ballmer as the CEO in 2014, has been instrumental in scaling up the company's business including billion-dollar acquisitions like LinkedIn, Nuance Communications and ZeniMax. Nadella will be replacing John Thompson as Chairman, who took over as chairman from co-founder Bill Gates in 2014, and will serve as lead independent director.

The top-level executive change comes just over a year after Gates stepped down from the board, saying he would focus on philanthropic works of the Bill and Melinda Gates Foundation, one of the world's biggest charities.

Nadella, 53, first joined Microsoft in 1992 and was named CEO in February 2014, at the same time that Microsoft co-founder Bill Gates stepped down as chairman of the board. Gates left the board last March, 45 years after co-founding the software giant with childhood friend Paul Allen. Fallout from Gates’ recent divorce announcement revealed that he left the board after allegations surfaced that he had an inappropriate relationship with an employee. Under Nadella, Microsoft has regained its stature as a tech powerhouse, making headlines for acquisitions of companies such as LinkedIn and GitHub, putting focus on the company’s cloud computing business, making accessibility and equity a leading platform of the company’s culture, and avoiding the antitrust scrutiny that has plagued rivals Amazon, Apple, Google and Facebook. Microsoft is the second most valuable company in the world behind Apple.

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