Microsoft CEO Satya Nadella was selected as board chair after a unanimous vote by the board of directors.
The incumbent chair will be moved to lead independent director, a position he formerly worked in from 2012-14, according to a June 16 news release.
"In this role, Nadella will lead the work to set the agenda for the board, leveraging his deep understanding of the business to elevate the right strategic opportunities and identify key risks and mitigation approaches for the board's review," the release said.
In Mr. Thompson's new role, he will provide input on behalf of the independent directors on board agenda, lead performance evaluations of the CEO and call meetings.