Intel CEO Paul Otellini to Retire in May

Posted November 19, 2012 at 3:27pm by iClarified | Please help us and submit a translation by clicking here | 4305 views

Intel has announced that the company’s president and CEO, Paul Otellini, will retire as an officer and director at the company’s annual stockholders’ meeting in May, starting an orderly leadership transition over the next six months. Otellini’s decision to retire will bring to a close a remarkable career of nearly 40 years of continuous service to the company and its stockholders.

“Paul Otellini has been a very strong leader, only the fifth CEO in the company’s great 45-year history, and one who has managed the company through challenging times and market transitions,” said Andy Bryant, chairman of the board. “The board is grateful for his innumerable contributions to the company and his distinguished tenure as CEO over the last eight years.”

“I’ve been privileged to lead one of the world’s greatest companies,” Otellini said. “After almost four decades with the company and eight years as CEO, it’s time to move on and transfer Intel’s helm to a new generation of leadership. I look forward to working with Andy, the board and the management team during the six-month transition period, and to being available as an advisor to management after retiring as CEO.”

The board of directors will conduct the process to choose Otellini’s successor and will consider internal and external candidates for the job.

The retirement comes as Intel struggles to succeed in mobile.

Read More


Share
Add Comment
Crunch - November 19, 2012 at 3:39pm
Wow...
Follow iClarified
New High-End 15-Inch MacBook Pro Officially Supports Dell's UP2715K 5K Display
Both the iPhone 6s and iPhone 6s Plus to Get Force Touch?
Apple has decided to include Force Touch supp...
Watch the Google I/O 2015 Keynote Live Here [Video]
The Google I/O 2015 keynote has just begun. W...
Amazon Launches Free Same-Day Delivery to Prime Members in Over 500 U.S. Cities
Apple Fails to Disqualify Antitrust Monitor in Appeals Court
A federal appeals court has rejected Apple's ...