Gates "will devote more time to the company" in his new role on the board as "the founder and technology advisor," a company statement said.
Indian-born Nadella, who becomes the third chief executive at Microsoft, has been executive vice president of its Cloud and Enterprise group.
"During this time of transformation, there is no better person to lead Microsoft than Nadella," said Gates in the company statement.
"He is 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," Gates said.
John Thompson, lead independent director, will assume the job of chairman at Microsoft, which has been losing ground in the technology world amid a shift away from the traditional PCs to mobile devices.
Nadella, who takes over from the retiring Steve Ballmer, said, "Microsoft is one of those rare companies to have truly revolutionised the world through technology, and I couldn't be more honoured to have been chosen to lead the company."
He added, "The opportunity ahead for Microsoft is vast, but to seize it, we must focus clearly, move faster and continue to transform. A big part of my job is to accelerate our ability to bring innovative products to our customers more quickly."
Nadella heads the team that runs the public, private and service provider clouds for Microsoft. Previously, Nadella was president of Microsoft's US$19bn server and tools business.
He is a native of Hyderabad, India and earned degrees from Mangalore University, the University of Wisconsin in Milwaukee and the University of Chicago.
Source: AFP via I-Net Bridge
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