After months of speculation, Microsoft's new CEO has already been chosen to replace Steve Ballmer, and that person is Satya Nadella. 

Working for Microsoft for the past 22 years, Nadella is seen by some analysts and industry-watchers as Bill Gates's personal bet on the CEO race. And with current CEO Steve Ballmer soon to be relinquishing his post, the new CEO is expected to shift the company to the right direction. 

And in his first address to the company, Nadella immediately established where the company is and which direction to go. 

"Our industry does not respect tradition - it only respects innovation," he said. "The opportunity ahead for Microsoft is vast, but to seize it, we must move faster, focus and continue to transform. I see a big part of my job as accelerating our ability to bring innovative products to our customers more quickly." 

The 46-year-old Nadella may not be a household name, but within the tech world's inner circles, he has become a well-beloved executive. And now that he is officially heading Microsoft to a new era, we'll see if he has what it takes. 

According to the report by BGR, Bill Gates will step down as chairman and serve as Microsoft's technology advisor, while Ballmer will still be a part of the company's board of directors.