Current Microsoft chief executive Satya Nadella, who has held the leadership role since 2014, has been "unanimously elected" by the board to take on the role of chair.

The software giant, which currently has a market capitalisation of around $1.97 trillion, saw revenues expand significantly under Satya’s leadership.

Microsoft’s revenue rose from $87 billion in 2014 when he started his role to $143 billion for the 2020 financial year, largely driven by the growth in its cloud business.

This marks the first time in over 20 years that the same person has held both roles at Microsoft since founder Bill Gates left his role as chief executive in 2000.

Nadella is set to replace John Thompson in the position of chair, who had held the role since 2014, and was formerly chief executive of Symantec.

Gates left the Microsoft board in early 2020, citing wanting more time to focus on philanthropy.

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