14 DAY TRIAL // Today, Microsoft has 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 take on their new roles on October 1.
At the same time, the company has also revealed that Dave Marquardt and Dina Dublon are not interested in being reelected as members of the board of directors and will leave the company in December, just after the annual shareholders' meeting.
As a result, the appointment of the two new members is actually supposed to help replace the retirement of the other two, as Microsoft continues its reorganization and transformation into a company focused on a mobile first, cloud first approach.
“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.
Charles W. Scharf, 49 years old, was appointed CEO of Visa in 2012 and previously spent a total of nine years at JPMorgan Chase & Co. as the chief executive officer of Retail Financial Services and managing director at One Equity Partner.
Teri List-Stoll, on the other hand, is the executive vice president and chief financial officer of Kraft Foods and previously worked as senior vice president and treasurer at Procter & Gamble.