Teri List-Stoll, 51, of Kraft Foods Group Inc (NASDAQ:KRFT), she is the executive vice president and chief financial officer, and Charles W. Scharf, 49, of Visa Inc (NYSE:V), where he serves as CEO for about 2 years, will join Microsoft Corporation (NASDAQ:MSFT)’s board of directors as Dave Marquardt and Dina Dublon will retire at the end of their current term, October 1. The company’s quarterly dividend got a 11% growth, up to $0.31 per share, according to the company’s news center.
The changes are welcomed by the remaining members of the board as both candidates pose excellent expertise and also have a long experience of working in similar positions, at different companies though. Their scope is to bring new powers in Microsoft Corporation (NASDAQ:MSFT)’s management as Marquardt, who’s 65 and has served since 1981 in different positions, and Dublon, who is 61 and joined the company in 2005 to chair the compensation committee, will peacefully retire. They both refrained from applying for a reelection.
Microsoft Corporation (NASDAQ:MSFT) has been showing a fantastic performance in terms of stock price, with some mischiefs after which company faced charges of power abuse. The software giant announced $23.38 billion in revenue for the fourth quarter 2014 that ended on June 30. Its operating income was $6.48 billion and diluted earnings per share were $0.55. Microsoft Corporation (NASDAQ:MSFT)’s cloud services brought a revenue 147% larger than last year, amounting $4.4 billion. Also, server products revenue grew 16%, partly due to the fact that SQL Server and System Center grew in a double-digit fashion. The company’s core product also had a significant growth, 3% increase for Windows OEM finalizing the list of impressing figures for the Devices and Consumer revenue, which is 42% more than last year totaling $10.00 billion.
The numbers above could be fortified by the newcomers. Charles W. Scharf brings also the experience attained from a former position as chief executive officer of Retail Financial Services and managing director at One Equity Partners at JPMorgan Chase & Co. (NYSE:JPM). Teri List-Stoll has knowledge accumulated in a variety of lead positions in the areas of business unit management, supply chain, sales, accounting, and financial planning and analysis during her almost 20 year experience at The Procter & Gamble Company (NYSE:PG). So, we have two professionals joining another group of highly trained experts to control an immense company with $386.12 billion market capitalization, there shouldn’t even remotely be a possibility for something to go wrong.
Disclosure: none
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