Bloomberg

Microsoft Names Smith Vice Chair, Starts $60 Billion Buyback

(Bloomberg) — Microsoft Corp., the world’s largest software maker, appointed President and Chief Legal Officer Brad Smith as vice chair and unveiled a new stock-repurchase program of as much as $60 billion.Smith, who joined Microsoft in 1993 and became general counsel in 2002, will continue to report to Chairman and Chief Executive Officer Satya Nadella, the Redmond, Washington-based company said Tuesday in a statement. Smith’s new role makes him vice chair of the company, not the board, and he

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