NEW YORK (CNNMoney.com) - Microsoft shook up management overseeing development of its Windows operating system Thursday, just two days after it delayed the release of a new version of the computer industry's dominant operating system.

The No. 1 software maker named Steven Sinofsky senior vice president in charge of the Windows and Windows Live Group. The announcement was part of a broader restructuring of the company's Platforms & Services Division, which was split into eight groups, including the Windows operating unit led by Sinofsky.

Sinofsky has held several positions on Microsoft product teams, including overseeing the development of the Office product group, the company said in a statement.

Jim Allchin, co-president of the Platforms & Services Division, will work with on delivering Windows Vista later this year, and as previously announced, he will retire next year, Microsoft (Research) said. Sinofsky will focus on planning future versions of Windows.

The restructuring of the Windows team comes after Microsoft announced Tuesday evening that it would delay shipping the next version of the software for consumers, Windows Vista, which had been expected later this year.

Vista's delay until January is expected to hit sales of personal computers during the holiday shopping season.

Microsoft stock fell about 1 percent on Nasdaq Thursday after sinking about 3 percent Wednesday following the Vista news.

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For more on Microsoft's problems with Vista, click here.

For more on what Vista's delay means for other tech companies, click here.