HomeWinBuzzer NewsMicrosoft Confirms Two Long-Standing Board Members are Stepping Down

Microsoft Confirms Two Long-Standing Board Members are Stepping Down

Bank of America Chief Financial Officer Charles Noski and the other is BMW U.S. Operations Chief Helmut Panke are stepping down from Microsoft’s board.

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is reshuffling its executive pack, including a reconfiguration of its board of directors. Specifically, two long standing board members are stepping down from the positions. Microsoft made the announcement late last week.

Both board members have been with the Redmond company since 2003. One of them is Bank of America Chief Financial Officer Charles Noski and the other is BMW U.S. Operations Chief Helmut Panke.

Before their departures, Microsoft's board had 14 sitting members. With the departure of Noski and Panke, the number has been reduced to 12. However, GlaxoSmithKline CEO Emma Walmsley has been nominated to join the board. If the nomination is accepted, the board will consist of 13 representatives.

The news arrived just days after Microsoft's board convened in Ireland for a meeting. It was the first time the company's top branch had ever met outside North America, according to Ken Hickey, CFO of Microsoft worldwide Operations on LinkedIn.

Current Microsoft board including Noski and Panke:

  • Chair John W. Thompson
  • Microsoft founder Bill Gates
  • Microsoft CEO
  • Greylock Partner and former LinkedIn co-founder Reid Hoffman
  • Hugh Johnston (PepsiCo)
  • Terri List-Stoll (Gap)
  • Helmut Panke
  • Charles Scharf (Bank of New York)
  • John Stanton (Trilogy Partnerships)
  • Charles Noski
  • Sandra Peterson (Johnson & Johnson)
  • Penny Pritzker (PSP Partners)
  • Arne Sorenson (Marriott International)
  • Padmasree Warrior (NIO USA)

Share Buyback

Last week, Microsoft also announced a share buyback program and the date of its next shareholder meeting. Redmond's board of directors has revealed the company's quarterly dividend increase. Microsoft's quarterly dividend has been bumped by 11% (5 cents), equating to $0.51 for each share. The company says existing shareholders on record by November 21 will get their end on December 12, 2020.

Also, the board said the company will hold its next shareholders meeting on December 4. As usual, CEO Satya Nadella will host the meeting, although he will do so virtually alongside CFO Amy Hood, President and Chief Legal Officer Brad Smith, and Independent Board Chair John W. Thompson.

SourceZDNet
Luke Jones
Luke Jones
Luke has been writing about all things tech for more than five years. He is following Microsoft closely to bring you the latest news about Windows, Office, Azure, Skype, HoloLens and all the rest of their products.

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