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United States : Microsoft announces board changes and quarterly dividend increase [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) 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. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |