Microsoft has appointed Amy Hood as its new chief financial officer (CFO), effective immediately.
After serving as CFO of the Microsoft Business Division, Hood will replace Peter Klein, who announced his intent to leave the company earlier this year. Microsoft said Klein will work with Hood through the rest of the month as she transitions into the new role.
Microsoft chief executive Steve Ballmer said: "Amy brings the right talents and experiences to the role as we continue to strengthen our focus on devices and services.
"She has been an instrumental leader in the Microsoft Business Division, helping lead the transition to services with Office 365 and delivering strong financial and operational management throughout her time on the business."
Hood has been with Microsoft for more than a decade and has been credited by the company for helping to cement the acquisitions of Skype and Yammer. She has also worked with Goldman Sachs prior to her move to Redmond.
The new CFO arrives as Microsoft is set to receive an infusion of cash. Last month, the company announced that it would be receiving $2bn from a hedge fund as part of a stock deal.
Klein, meanwhile, steps down from the CFO position he has held since 2009. Like hood, he moved into the CFO role after heading up finance for the company's highly lucrative business division.
Hood said in a statement: "I'm excited to step into this role and look forward to working closely again with our investors and shareholders. Peter has built a world-class finance team, and I am set up well to continue the company’s strong discipline around costs and focus on driving shareholder value."
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago