Microsoft’s cloud and enterprise chief Satya Nadella has emerged as the frontrunner to become the company’s next CEO, according to a report from Bloomberg.

Bloomberg’s unnamed sources within Microsoft say the board is preparing to name Nadella as CEO, though the plans aren’t final. A tweet from the story’s lead reporter Dina Bass last night read: “Microsoft’s board is preparing to name Satya Nadella CEO, sources tell us.”

The report also claimed that the board is discussing replacing Bill Gates as chairman, and one candidate to replace him could be Microsoft lead independent director John Thompson. However, two separate sources familiar with the process told Bloomberg that even if Gates steps down, he might become more involved in areas of the company such as product development.

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Since the Bloomberg story broke, other reports from The New York Times and The Wall Street Journal have reiterated that while Nadella is the board’s preferred candidate, a final decision has not yet been made.

Sources told the website re/code the board could announce their decision as early as next week.