The Business Council, an association made up of global CEOs, announced Thursday that Microsoft CEO Satya Nadella will be its new board chairman.

Nadella succeeds Nike CEO John Donahoe who was chairman for the 2019 to 2020 term. The council, which is based in Washington, D.C., is made up of 175 CEOs who gather to network and engage in policy discussions.

Nadella, who was born in India, has been CEO of Microsoft since 2014 and joined the company in 1992.

“The Business Council has always played a critical role in helping the world’s business leaders connect with and learn from each other,” Nadella said in a statement Thursday.

The Business Council’s 2020 to 2021 executive committee is made up of 18 CEOs, including Nadella, Donahoe, Amazon CEO Jeff Bezos, Best Buy CEO Corie Barry, JPMorgan Chase CEO Jamie Dimon, Johnson & Johnson CEO Alex Gorsky and Goldman Sachs CEO David Solomon.

“While the start of a new decade brings hope and excitement, we quickly saw the world come to a near standstill at the start of the year," Nadella said. "This community has been invaluable in helping CEOs navigate and lead through this unprecedented time in history."

Marlene Colucci, the Business Council’s executive director, said the association will continue to play a unique role in helping the global business community navigate the coronavirus pandemic.

“Collectively, this is a group with the power to see around corners and to help prepare one another for existential-level threats,” said Colucci. “The Business Council’s membership functions as a collaborative community of peers – not as competitors or adversaries.”