It’s official: Microsoft’s search for a new CEO is over. Meet Satya Nadella – the new CEO of Microsoft. He’s the third ever CEO of the company since it was founded in 1975, following Steve Ballmer and Bill Gates. The 46-year-old Nadella will take over immediately, allowing Ballmer to retire early.

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Formerly, Nadella has been in charge of Microsoft’s Cloud and Enterprise division and has a rich technical background. He has a master’s degree in computer science as well as a master’s degree in business administration – both of which sound helpful for running a multi-billion dollar corporation.

The Wall Street Journal reports that Nadella has told the company board directors that he’ll lean on Bill Gates while running Microsoft. As far as the company’s board goes, Ballmer remains a director, while Nadella becomes one.

Analysts describe Nadella as a “safe pick” for the CEO seat at Microsoft, due to his great work for the company so far. However, it remains to be seen if he’ll be able to improve Microsoft’s position in the technology sphere and make the company more competitive .

As Nadella takes over as CEO co-founder Bill Gates steps down as chairman today;his new official title is founder and technology advisor.

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