Along with its dividend hike, Microsoft (MSFT) is announcing Merck CEO Raymond Gilmartin is retiring from the company's board. No replacement is named for now. Also, Microsoft says it has hired former CBS Network President Nancy Tellem to be its Entertainment & Digital Media chief. Tellem will run a new L.A. studio that will develop content for the other Xbox and other devices. The hiring comes as the Xbox rapidly emerges as a major home entertainment platform.