Microsoft holds annual shareholders meeting

REDMOND, Wash., Nov. 29, 2017

"Every customer is looking for both innovative technology to drive new growth, and a strategic partner that can help them build their own digital capability," Nadella said. "Microsoft will continue to deliver differentiated solutions using new technologies, like cloud, artificial intelligence and mixed reality, to empower our customers to grow and thrive."

Executive Vice President and Chief Financial Officer Amy Hood shared highlights of Microsoft's strong performance over the past fiscal year including continued growth in its commercial cloud business. Hood noted that Microsoft's innovation road map, disciplined investment and world-class talent position the company well for continued growth and deliver value for shareholders.

President and Chief Legal Officer Brad Smith discussed Microsoft's plans to modernize its headquarters in Redmond through new construction and renovations. This investment underscores the company's continued commitment to create an exceptional place to work and enhance economic opportunity for the entire region.

The following proposals were acted on by the company's shareholders at the meeting:

• Re-elected 10 directors and elected four new directors to serve until the next annual meeting of the shareholders: Reid Hoffman, partner at Greylock Partners; Hugh Johnston, vice chairman and chief financial officer of PepsiCo Inc.; Penny S. Pritzker, founder and chairman of PSP Capital and former U.S. Secretary of Commerce; and Arne Sorenson, president and chief executive officer of Marriott International. All director nominees received a vote of more than 98 percent of votes cast.
• Approved, on a nonbinding advisory basis, the fiscal year 2017 compensation of the company's named executive officers. The advisory measure received more than 95 percent of votes cast.
• Approved a yearly advisory vote on executive compensation. The advisory measure received more than 90 percent of votes cast.
• Ratified the selection of Deloitte & Touche LLP as the company's independent auditor for fiscal year 2018, with over 98 percent of votes cast.
• Approved material terms of the performance goals under the Microsoft Corporation Executive Incentive Plan, with a vote of more than 98 percent of votes cast.
• Approved the Microsoft Corporation 2017 Stock Plan, with a vote of 96 percent of votes cast.

Microsoft's board of directors consists of John W. Thompson, Microsoft independent chairman; William H. Gates, co-chair and trustee of the Bill & Melinda Gates Foundation; Reid Hoffman, partner at Greylock Partners; Hugh Johnston, vice chairman and chief financial officer of PepsiCo Inc.; Teri L. List-Stoll, executive vice president and chief financial officer of Gap Inc.; Satya Nadella, chief executive officer of Microsoft; Charles H. Noski, former vice chairman of Bank of America Corp.; Dr. Helmut Panke, former chairman of the board of management at BMW AG; Sandra E. Peterson, group worldwide chair for Johnson & Johnson; Penny S. Pritzker, founder and chairman of PSP Capital and former U.S. Secretary of Commerce; Charles W. Scharf, chief executive officer of The Bank of New York Mellon Corp.; Arne Sorenson, president and chief executive officer of Marriott International; John W. Stanton, chairman of Trilogy Partnerships; and Padmasree Warrior, chief executive officer of NIO USA Inc.