Microsoft's new CEO is...

It's official: Microsoft’s search for a new CEO is over. Following recent speculations, the software giant is indeed appointing Satya Nadella as its new CEO to replace Steve Ballmer. The 46-year-old Nadella will take over immediately, allowing Ballmer to retire early. Nadella had been one of a number of candidates that Microsoft is believed to have interviewed for the role; the company originally said it was pushing to name its Ballmer successor before the end of last year. Despite the fact that the search extended into 2014, the timing of the CEO announcement is important as it places Nadella in charge ahead of the closure of Microsoft’s Nokia deal and the company's ongoing reorganization.