SANTA CLARA, Calif. (AP) — Intel’s CEO, Paul Otellini, plans to retire in May after nearly 40 years with
the company.
Intel
Corp. said Monday that its board will look at company executives as
well as external candidates to replace Otellini. He has been head of
Intel for eight years.
Intel is the world’s largest maker of
microprocessors, the "brains" of computers. The company is dealing with
consumers’ shift away from PCs and toward tablet computers — a threat to
Intel because most tablets don’t use its processors. Instead, they use
cheaper chips similar to the ones found in smartphones.
Also on
Monday, Intel announced that it has promoted three executives to
executive vice president: Renee James, head of Intel’s software
business; Brian Krzanich, chief operating officer and head of worldwide
manufacturing; and Stacy Smith, chief financial officer and director of
corporate strategy.
Otellini, 62, joined Intel in 1974. In 2002,
he was named president and chief operating officer and became CEO three
years later.
The Santa Clara, Calif., company’s shares climbed 16 cents to $20.19 Monday morning.
Copyright 2012 The Associated Press.
SANTA CLARA, Calif. (AP) — Intel’s CEO, Paul Otellini, plans to retire in May after nearly 40 years with
the company.
Intel
Corp. said Monday that its board will look at company executives as
well as external candidates to replace Otellini. He has been head of
Intel for eight years.
Intel is the world’s largest maker of
microprocessors, the "brains" of computers. The company is dealing with
consumers’ shift away from PCs and toward tablet computers — a threat to
Intel because most tablets don’t use its processors. Instead, they use
cheaper chips similar to the ones found in smartphones.
Also on
Monday, Intel announced that it has promoted three executives to
executive vice president: Renee James, head of Intel’s software
business; Brian Krzanich, chief operating officer and head of worldwide
manufacturing; and Stacy Smith, chief financial officer and director of
corporate strategy.
Otellini, 62, joined Intel in 1974. In 2002,
he was named president and chief operating officer and became CEO three
years later.
The Santa Clara, Calif., company’s shares climbed 16 cents to $20.19 Monday morning.
Copyright 2012 The Associated Press.