After a search process that seemed as drawn out as a season of American Idol, Microsoft decided to stick with an insider to replace Steve Ballmer in the software company’s top job. A 22-year veteran of the company, Satya Nadella was EVP of the Cloud and Enterprise group, and formerly oversaw the Bing search service. Microsoft also says that Bill Gates will become more active in a new role on the board as Founder and Technology Advisor, where he’ll help Nadella “in shaping technology and product direction.” An independent director, John Thompson, will replace Gates as board chairman.
The execs have their work cut out for them: Over the last five years Microsoft shares have lagged rivals led by Apple and Google as the company’s Windows-based products struggled to find a foothold in the world of smartphones and tablets. “The opportunity ahead for Microsoft is vast, but to seize it, we must focus clearly, move faster and continue to transform,” Nadella says. “A big part of my job is to accelerate our ability to bring innovative products to our customers more quickly.” Gates says that Nadella is the right pick because he’s “a proven leader with hard-core engineering skills, business vision and the ability to bring people together. His vision for how technology will be used and experienced around the world is exactly what Microsoft needs as the company enters its next chapter of expanded product innovation and growth.” Here’s the company’s release:
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Bill Gates‘ net worth of $72B enabled him to claim the top spot on the Forbes tally for the 20th consecutive year — followed by Berkshire Hathaway’s Warren Buffett ($58.5B), Oracle’s Larry Ellison ($41B), and then Koch Industries’ Charles and David Koch ($36B). While Buffett fattened his holdings the most over the last year, adding $12.5B, the recovery in Facebook’s stock helped to boost Mark Zuckerberg‘s net worth by $9.6B to $19B lifting him 16 spots to No. 20. Once again, the list is heavy with names from the tech world — but at least 28 media execs had a net worth of at least $1.3B, the highest amount needed to qualify for the top 400 since 2008. Bloomberg LP founder Michael Bloomberg, who also happens to be mayor of New York, had $31B, putting him in 10th place, same as last year. Cox Communications’ Anne Cox Chambers, with $13.5B, was 29th (+3 on the list), narrowly beating Rupert Murdoch and family $13.4B (at No. 30, +6). Dish Network’s Charlie Ergen follows at $12.5B (No. 32, +7). Advance Publications’ Samuel Newhouse had $8.9B (No. 46, same as last year) ahead of brother Donald’s $8.2B (No. 52, -1). There’s a tie at No. 61 with the $6.7B net worth for Cox Enterprise’s Jim Kennedy (same rank as last year) and Liberty Media’s John Malone (he’s -4 spots on the list). Other media names include: Read More »
Will Hollywood Book Biopic Of Steve Jobs?
As a tribute to Apple co-founder Steve Jobs, who died yesterday, TNT will preempt its primetime lineup for two back-to-back airings at 8 PM and 10 PM of its 1999 original movie … Read More »
Hollywood arrived at the annual Allen & Co investment conference in Sun Valley today — but I don’t know why. It’ll be a showbiz snorefest. Because only ”A Conversation With Oprah Winfrey” is scheduled and no one is interested unless she comes clean about how … Read More »
The Toronto International Film Festival has rounded out its film roster, which has swelled to nearly 250 films. The fest filled out its Discovery, Masters, Contemporary World Cinema and Visions and Vanguard programs, but the additions that jumped out to … Read More »