Visa, Kraft Foods execs join Microsoft's board

Microsoft announced that two of its current board members are retiring and that the company is filling the vacant seats with new board members. At the end of their terms, Dave Marquardt and Dina Dublon will retire, and Microsoft said that they would not be seeking re-election. When that happens, effective October 1, Kraft Foods Group Inc. EVP and CFO Teri List-Stoll and Visa Inc. CEO Charles W. Scharf will be joining Microsoft as its newest board members.

"I'm excited to have both Teri and Charlie joining our board," Microsoft CEO Satya Nadella said in a press release. "Teri brings exceptional financial and operational expertise, as well as great insights from her two decades of experience in consumer and retail industries. Charlie, as a sitting CEO of a large global business, brings additional strategic and operational depth to the Microsoft board, as well as a deep understanding of how commerce is changing globally."

In addition to welcoming new board members, Microsoft also delcared an increased quarterly dividend compared to the prior quarter. The company will give shareholders $0.31 per share, or an 11 percent increase from last quarter.

Source: Microsoft (opens in new tab)

Chuong Nguyen

Chuong's passion for gadgets began with the humble PDA. Since then, he has covered a range of consumer and enterprise devices, raning from smartphones to tablets, laptops to desktops and everything in between for publications like Pocketnow, Digital Trends, Wareable, Paste Magazine, and TechRadar in the past before joining the awesome team at Windows Central. Based in the San Francisco Bay Area, when not working, he likes exploring the diverse and eclectic food scene, taking short jaunts to wine country, soaking in the sun along California's coast, consuming news, and finding new hiking trails. 

  • Microsoft will make food now? :P
  • DAT Nokia cheese that doesn't go bad Posted via the Windows Phone Central App for Android
  • Eatable tablets and phones.
  • "Edible". But "eatable" sounds more fun haha
  • Oh, thanks! :)
  • Microsoftdrinks
  • Fizzy tablets.
  • What a cheesy business move...
  • I see what you did there!
  • and Microsoft Pay?
  • Yes, its MineKraft ..... oh wait
  • So are the Kraft and Visa CEOs working for their respective companies and Microsoft on October 1, or just Microsoft?
  • They keep their current jobs, think of this as outsiders perspective. As an example, look at Apple's board of directors: They have a former United States VP (Al Gore), an executive from J.Crew and Walt Disney on there. None are "employed" by Apple.
  • Oh ok. That's what I was thinking. Thank you for the explanation.
  • No problem, here is a better explanation from good ole Wikipedia:
  • Thanks I was curious also. It sounded like the male board member is CEO of Visa currently. Hopefully they can make the Wallet function more robust somehow
  • Good man, @zeke009!
  • Basically they get fat checks for their outside opinions
  • If only someone wanted to pay me for mine!
  • I'd give mine for half the cost!
  • Mine is only worth two cents.
  • So if someone asked "A penny for your thoughts" and you put in your "two cents worth" they'd be up a penny.  This is how capitalism works.
  • Exactly. It's not so much a job as a way for all of them to become members of each others boards and cut themselves fat paychecks for it.
  • board of directors is a part time thing. they have meetings are maybe once a month. they are supposed to monitor and guide the ceo.
  • They actually have a very important role in the company. Especially from a financial perspective, they have the audit committee and basically oversee that the financial reporting is done and audited and provide guidance to the auditors. I may or may not be an accountant....
  • Kraft foods? The company that ruined Cadbury? You cannot be serious :/
  • ^This. Living abroad and a relative brought me some back from the isles.... Its far from how I remember it. :(
  • Yep, this ^
  • The little candy coated eggs (the only product I eat) still taste the same... Which is awesome.
  • Maybe after that happens we can use NFC on our Windows Phone to purchase a box of Mac n Cheese
  • This made me lol
  • With a visa Credit Card.
  • Micro-waveable.
  • I see what you did there. ;)
  • Nothing to see here. Move along, move along.
  • Lol
  • Eatable phones confirmed for WP 9
  • Don't say wp9, It makes me feel anxious
  • Won't be called Windows Phone next year, just "Windows". Microsoft Lumia running Windows OS.
  • Actually it will still be referred to as Windows phone. Not Windows Phone however. At least in his statement you can still say Windows phone 9. Because in reality its ONE Windows but there will be a phone version of it.
  • Yeah hopefully Microsoft can sum up what you just said so it's easier for the general public to understand
  • Doesn't roll off the tongue very easily
  • I isn't it edible? ;)
  • The only good thing that comes out of not reading the article, says the guy who read the article.
  • Happy to see some change. I'm excited to see what Microsoft has to offer (:
  • So, let me get my ducks in a row: Microsoft is laying off 18000 people, adding new members to its board, and increasing the quarterly dividend? Ok.
  • They're not adding they're replacing.
  • I get that. However, if the company is trying to save money, do they really need to replace the two seats?
  • The layoffs were inevitable whenever a company shifts focus like MS has. If Apple were to shift away from Mobile (iPhone, iPad, iWear) and go all out on iCloud and OS X, there would be layoffs. Not everyone can be transfered to a new department as they scale back in those other areas. Replacing the Outside Directors on your board is a good thing to do. It brings in fresh ideas, expertise and a unique perspective. It was essential to replace the outgoing members.
  • Ok, point proven. I forgot that new board members does mean fresh ideas. Could be what Microsoft needs.
  • Kraft has never offered anything fresh. :P
  • Hey, corporations did that often. They might get good sales, but if in the end they don't get the targeted profit than they will lay somebody
    . Getting the right money is the bottom line.
  • Visa's CEO? can we expect something useful coming to the wallet app?
  • Mmmm.....cheddar!
  • Windows Phone Comrades, the inclusion of food production companies, credit card companies etc., may help to bring some ideas for marketing WP products in the U.S. We all know of MS's poor performance in the Fatherland, which is also the most financially sound market that they can most easily influence if done correctly, hence Visa, which we all see Visa ads all over the place.
  • Microsoft will make sandwiches now prepared with Satya Nutella. xD
  • Chocolate filled Lumias!!! SUCK IT ANDROID!
  • Ahhhh yeah
  • Lol.. Nutella sandwiches.. That's what we need.. With some Oreo underneath :P
  • Oh man, that's Krap! :-P
  • Microsoft, NASCAR team same thing
  • lol
  • They need a lot of marketing expertise!!.
  • Mobile pay on WP visa?
  • No question MSFT needs marketing expertise however they should have gotten the Proctor & Gamble CEO...
  • OMG those are big names!!!
  • Hmmm...explains why see Nokia phones in Kraft mac and cheese commercials.
  • so will we finally get visa apps and tokens soon
  • changes happing in every microsoft corner 
  • Free Kraft Dinner and Prepaid Visa Cards should be arriving soon.
  • Can the VISA guy please help with wallet and mobile payment progress??
  • Probably not much.... NDAs and anticompetitive agreements
  • Higher dividends are always welcome. :D
  • Looking forward to ufc fights
  • How many board members are women? I estimate 0...
  • Wow
  • I want pizzas with tiles of ham and cheese.
  • Maybe having Oreos at board meetings will keep people awake. 
  • I wonder if this might give MS a leg up when it comes to NFC Visa Card payments?