Intel CEO Otellini To Step Down - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Infrastructure // PC & Servers
News
11/19/2012
10:18 AM
Connect Directly
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%

Intel CEO Otellini To Step Down

Intel's Paul Otellini, president and CEO, is retiring as Intel stares down a post-PC era favoring mobile chips.

Intel's Tech Roadmap: Visual Tour
Intel's Tech Roadmap: Visual Tour
(click image for larger view and for slideshow)
Paul Otellini, the 62-year-old president and CEO of Intel, has decided to retire, the chip maker announced on Monday. Otellini will step down from his executive and director posts following the company's annual stockholder's meeting in May 2013, and Intel promised an orderly leadership transition over the next six months.

Otellini, who has served with the company for nearly 40 years, has been in the top spot since 2005. His departure comes amid trying times for Intel (and its smaller rival, AMD) as it struggles with both a slow global economy and what many are calling a post-PC era that is seeing sales grow for ARM chips designed for mobile devices such as tablet computers.

Intel beat its latest financial forecasts when it reported earnings last month, but its outlook for fourth-quarter revenue came in at $13.1 billion to $14.1 billion, with the midpoint being lower than analysts' forecasts. That's an early sign that Intel doesn't expect the release of Microsoft's Windows 8 operating system to turn around stagnating consumer sales of personal computers.

Intel's announcement focused on Otellini's accomplishments, crediting him with transforming the company's operations and cost structure and, more recently, "reinventing the PC" with Ultrabook devices.

[ Want more context? Read As AMD Explores Options, Intel Pain Looms. ]

"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," Otellini said in a statement.

Intel's board of directors will lead the search for Otellini's replacement, and it will consider both internal and external candidates, the company said.

Intel also announced that the board has promoted three senior leaders 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.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
Slideshows
10 Ways to Prepare Your IT Organization for the Next Crisis
Cynthia Harvey, Freelance Journalist, InformationWeek,  5/20/2020
News
IT Spending Forecast: Unfortunately, It's Going to Hurt
Jessica Davis, Senior Editor, Enterprise Apps,  5/15/2020
Commentary
Helping Developers and Enterprises Answer the Skills Dilemma
Joao-Pierre S. Ruth, Senior Writer,  5/19/2020
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
Key to Cloud Success: The Right Management
This IT Trend highlights some of the steps IT teams can take to keep their cloud environments running in a safe, efficient manner.
Slideshows
Flash Poll