Microsoft’s head of venture has resigned

Chris Young, Microsoft’s head of business development and its venture unit, resigned from his role on Wednesday, the company said.

Young led Microsoft’s M12 venture fund, and was what’s known as a named officer. Microsoft’s other named officers include CFO Amy Hood, top lawyer and vice chair Brad Smith, head of sales Judson Althoff, and CEO and chairman Satya Nadella.

Because Young was a named officer, Microsoft was legally obligated to publicly report his compensation, responsibilities, and departure. On Wednesday, Microsoft announced Young’s resignation in an SEC filing.

When Microsoft filed its annual proxy report in October, it listed Young’s accomplishments as increasing M12’s “engagements” in areas like AI and data infrastructure, working with company leadership in emerging tech, closing a strategic partnership, and helping the company make progress on its big sustainability goals. The company also said that Young “championed diversity and inclusion within the business development organization and across the company.”

Young was formerly CEO of McAfee. He joined Microsoft in 2020 to replace the company’s previous dealmaker, Peggy Johnson, who founded M12. M12 was originally created by the Seattle tech giant to keep tabs on emerging Silicon Valley tech and rising startups through typical venture investment. Under Young, it became more like an extension of Microsoft’s business development team.

The SEC filing did not indicate why Young was leaving. It did say that he would be staying on as an employee until March to assist with the transition, although no longer in his former job. Young did not immediately reply to a request for comment.

“We are deeply grateful for the significant impact Chris had at Microsoft over the past 4 years,” a spokesperson told TechCrunch. “During Chris’ tenure, he led hundreds of strategic partnerships, fostered a culture of innovation, and laid the groundwork for our future growth. We support Chris’ decision to pursue a new endeavor.”

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