Microsoft Corporation (NASDAQ:MSFT) could be about to make waves not only in the CEO department, but also chairman. Bloomberg is reporting that its sources say the software giant is talking about replacing co-founder Bill Gates as chairman. Also Kara Swisher of Re/code reports that Microsoft is nearing the end of the search for its next CEO.

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Microsoft could replace Bill Gates as chairman

We heard rumblings late last year that Microsoft Corporation (NASDAQ:MSFT) could oust Bill Gates as chairman, but now Bloomberg’s sources suggest that it may actually happen soon. One candidate who is said to be in the running to replace Gates is John Thompson, lead independent director. Thompson is also leading the search for the next CEO. However, the sources did say Gates would still be an active presence at the company he founded nearly 40 years ago.

Microsoft could name new CEO within the next week

According to Swisher’s sources, Microsoft Corporation (NASDAQ:MSFT) could choose its next CEO within the next week or so. She reports that the company’s insiders appear to have the edge over other candidates with current enterprise chief Satya Nadella likely being the top pick at this point. Bloomberg’s sources also back Nadella as the leading candidate for CEO.

Swisher said the reason he’s a frontrunner for the top spot at Microsoft Corporation (NASDAQ:MSFT) is because he is not only exceptionally familiar with the company because he has spent a large chunk of his career there, but he also has a solid technical background and has held various positions at Microsoft.

Her sources said the other two internal candidates, former Skype CEO Tony Bates and former Nokia CEO Stephen Elop, seem to be lagging behind Nadella, although neither of them have reportedly been told that they are no longer in the running. Also there is still a chance that an outsider could take over. Swisher herself is pulling for VMware CEO Pat Gelsinger.