Microsoft's next CEO is Satya Nadella, currently the chief of Microsoft’s Cloud and Enterprise group, according to Bloomberg. Nadella is being considered a strong choice because of his technical background and familiarity with Microsoft, having been there since 1992.

If Bloomberg's reporting turns out to be accurate, Nadella will be replacing Steve Ballmer, who announced in August 2013 that he would retire. Microsoft's board has been on a long search process for a replacement. The shortlist is said to have contained a laundry list of names, including Ford chief Alan Mulally, Nokia boss Stephen Elop and Skype leader Tony Bates.  

Recode reports an official announcement naming a CEO will come from Microsoft within the next week. The publication also added Nadella as the likely CEO choice from Microsoft.

Furthermore, Microsoft may remove founder Bill Gates as chairman when it names the new CEO, Bloomberg says. While Gates may remain in an active role at Microsoft, current board member John Thompson could take his place in the top board spot.

Microsoft declined to comment on Thursday's rumours. Nonetheless, there appears to be some big shake-ups ahead at the Redmond-based company.