Microsoft reshuffles executive team; Elop to depart

On Wednesday, Microsoft , in an email to employees, announced changes to its senior leadership team to "reinvent productivity and business processes, build the intelligent cloud platform, and create more personal computing."

"We are aligning our engineering efforts and capabilities to deliver on our strategy and, in particular, our three core ambitions," said Microsoft CEO, Satya Nadella . "This change will enable us to deliver better products and services that our customers love at a more rapid pace."

Stephen Elop, a former CEO of Nokia, will leave the company after a transition period. Kirill Tatarinov and Eric Rudder will also leave the company as a result of the organizational moves. Following the changes, the senior leadership team will include 12 executives.

"With the structural change described above, Stephen and I have agreed that now is the right time for him to retire from Microsoft," Nadella said. "I regret the loss of leadership that this represents, and look forward to seeing where his next destination will be."

Read More The ups and downs of Satya Nadella's first year

Elop, once considered a successor to former Microsoft Chief Executive Steve Ballmer, joined the company to run its devices business after Microsoft bought Nokia in 2013.

Elop was hired as Nokia CEO in 2010 from Microsoft, where he ran the business software division.

Chief Insights Officer Mark Penn will also leave the company in September to form a private equity fund, in a move unrelated to the restructuring changes.

Executive Vice President Terry Myerson will lead a new team, Windows and Devices Group, to focus on personal computing by the Windows systems.

-Reuters contributed to this report.