Chris Young, Microsoft's head of business development and ventures, resigned from his position on Wednesday, the company announced.
Mr. Young headed Microsoft's M12 venture fund and was a so-called named director. Microsoft's other named executives include CFO Amy Hood, top lawyer and vice chairman Brad Smith, head of sales Judson Althoff, and CEO and chairman Satya Nadella.
Because Young was a named executive, Microsoft had a legal obligation to publicly report on his compensation, responsibilities, and termination. Microsoft announced Young's resignation Wednesday in an SEC filing.
When Microsoft filed its annual proxy report in October, Young was credited with increasing M12's “engagement” in areas such as AI and data infrastructure, and collaborating with company leaders in emerging technology areas. He cited the company's strategic partnership and support for the company's major business advancement. sustainability goals. The company also said Young “advanced diversity and inclusion within the business development organization and across the company.”
Mr. Young was previously CEO of McAfee. He joined Microsoft in 2020, replacing Peggy Johnson, the company's former dealmaker who founded M12. M12 was originally founded by Seattle tech giants to monitor Silicon Valley's emerging technologies and emerging startups through typical venture investing. Under Young, it has become something of an extension of Microsoft's business development team.
The SEC filing does not give a reason for Young's departure. He plans to remain an employee until March to help with the transition, but said he is no longer working in his previous position. Young did not immediately respond to a request for comment.
“We are deeply grateful to Chris for his tremendous impact on Microsoft over the past four years,” a spokesperson told TechCrunch. “During Chris' tenure, he led hundreds of strategic partnerships, fostered a culture of innovation, and laid the foundation for our company's future growth. We support Chris' decision to pursue new initiatives. I will.”