NEW YORK — The LinkedIn professional networking service is getting a new CEO.
Jeff Weiner will become executive chairman after 11 years as chief of the Microsoft-owned business. Ryan Roslansky, senior vice president of product, will become CEO as of June 1.
Weiner said the timing felt right personally and professionally, with a ready successor.
Roslansky said LinkedIn's priority of serving the world's professionals isn't going to change.
LinkedIn is a social network for workers and job seekers. Recruiters use it to find new hires. Users can share their resumes, search for jobs and catch up on career advice and the latest news. The basic version is free, though LinkedIn charges to get additional features.
Weiner said he sees his new role as similar to how LinkedIn founder Reid Hoffman helped him.
"He was there to help ensure that I was going to be successful," Weiner said in a video posted by LinkedIn. "So I'd like to replicate this process."
Weiner said he would still be available to represent the company and help with product or strategy reviews.
The service has about 675 million members, compared with 33 million when Weiner joined LinkedIn as CEO in 2008.
Microsoft bought the company for $26 billion in 2016, making it the Redmond, Washington, company's largest acquisition. LinkedIn made up almost 6% of Microsoft revenue over the past six months.
Roslansky has been at LinkedIn for more than 10 years. He will report to Microsoft CEO Satya Nadella and join Microsoft's senior leadership team.
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
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