REDMOND, Wash., Sept. 16, 2014 /PRNewswire/ -- Microsoft Corp. on
Tuesday announced that 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.
"As we continue to focus on the company's transformation and the
board continues to evaluate capital strategy options, this dividend
increase is another step in our ongoing commitment to increase
capital returns to shareholders," said Amy
Hood, chief financial officer of Microsoft.
Scharf, 49, has served as CEO of Visa since November 2012. Before joining Visa, Scharf spent
nine years at JPMorgan Chase & Co. as the chief executive
officer of Retail Financial Services and managing director at One
Equity Partners, the firm's private investment arm. He has also
served as the chief executive officer and chief financial officer
of Bank One Corp., and chief financial officer of both Salomon Smith Barney and the global corporate
and investment bank division of Citigroup Inc. He serves on the
board of trustees for Johns Hopkins
University and the board of directors for the Financial
Services Roundtable.
List-Stoll, 51, is executive vice president and chief financial
officer for Kraft Foods Group, Inc. Before joining Kraft, she
served as senior vice president and treasurer at Procter &
Gamble. Previously, over the course of a nearly 20-year career at
Proctor & Gamble, she held finance leadership roles across a
diverse range of areas including business unit management, supply
chain, sales, accounting, and financial planning and analysis. She
serves on the board of Danaher Corp. and as a trustee of the
Financial Accounting Foundation.
"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."
Marquardt, 65, has served on the Microsoft board since 1981 in a
variety of capacities. Dublon, 61, joined the Microsoft board in
2005, and has chaired the compensation committee.
"As one of our earliest board members, Dave has played an
indispensable role in Microsoft's growth and development, providing
sage counsel and invaluable industry insights," said Bill Gates, founder and technology advisor of
Microsoft. "Dina has also been a great board member for almost a
decade, and we all appreciate her guidance and support."
Adding List-Stoll and Scharf will increase Microsoft's board to
12 members effective Oct. 1.
Scharf will be joining the board's governance and nominating
committee. List-Stoll will be joining the audit committee.
In addition to List-Stoll and Scharf, Microsoft's board of
directors consists of John W.
Thompson, Microsoft chairman and chief executive officer of
Virtual Instruments; Dina Dublon,
former chief financial officer of JPMorgan Chase; Bill Gates, Microsoft founder and technology
advisor; Maria M. Klawe, president,
Harvey Mudd College; David F. Marquardt, general partner at August
Capital; G. Mason Morfit, president,
ValueAct Capital; Satya Nadella,
Microsoft CEO; Charles H. Noski,
former vice chairman of Bank of America Corp.; Dr. Helmut Panke, former chairman of the board of
management at BMW AG; and John W.
Stanton, chairman, Trilogy Equity Partners and Trilogy
International Partners.
Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide
leader in software, services, devices and solutions that help
people and businesses realize their full potential.
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SOURCE Microsoft Corp.