Chu (pictured) joined Microsoft as head of MSN Hong Kong in June, 2004. He was promoted to lead the Microsoft advertising and online business in 2008.
Chu told Campaign Asia-Pacific that he will take a short break before taking up a new role in December.
Without disclosing the full details, Chu said his new job is in Greater China and is related to the internet industry, but not a direct competitor of Microsoft.
A Hong Kong native who grew up in China, Chu previously also worked for Yahoo and Lycos in the Greater China market.
Chu called his time with Microsoft "wonderful" and said that it could not have been better.
As part of the transition, Grace Peng, sales director for Microsoft's Taiwan team, will take on expanded responsibility to lead the business in Taiwan, while William Lai, business director, who has been with Microsoft Hong Kong for 12 years, will lead the Hong Kong A&O.
Reported in October, Horace Chow, former vice-president and general manager of database and technology for SAP China, has been appointed as GM of Microsoft Hong Kong in the wake of veteran Peter Yeung's retirement.