Microsoft Corp. (NASDAQ: MSFT) lost two board members and added two. The huge software company, in the midst of one of the largest transformations in its history, also increased its dividend.
Just weeks ago, former CEO and early employee Steve Ballmer stepped down from the board.
The company announced:
Teri List-Stoll, executive vice president and chief financial officer of Kraft Foods Group Inc., and Charles W. Scharf, chief executive officer of Visa Inc., have been appointed to the company’s board of directors and will join the board effective Oct. 1, 2014.
The company also announced that Dave Marquardt and Dina Dublon have decided not to seek reelection to the board of directors and will retire from the board at the expiration of their current term following the annual shareholders meeting in December.
Microsoft also announced its board of directors declared a quarterly dividend of $0.31 per share, reflecting a 3-cent, or 11 percent, increase over the previous quarter’s dividend. The dividend is payable Dec. 11, 2014, to shareholders of record on Nov. 20, 2014. The ex-dividend date will be Nov. 18, 2014.
“These additions help strengthen our ability to serve our shareholders and work with Satya and the company’s senior leadership team on Microsoft’s ongoing transformation,” said John Thompson, Microsoft chairman.
“I’m excited to have both Teri and Charlie joining our board,” said Satya Nadella, CEO of Microsoft. “Teri brings exceptional financial and operational expertise, as well as great insights from her two decades of experience in consumer and retail industries. Charlie, as a sitting CEO of a large global business, brings additional strategic and operational depth to the Microsoft board, as well as a deep understanding of how commerce is changing globally.”