Santa Clara, Calif.--March 26, 1998--Intel plans to elect Craig Barrett, current president and chief operating officer, as its next chief executive officer, succeeding longtime CEO Andrew Grove, who will continue working full time as chairman.
The move, which Intel's board will enact after the company's annual meeting on May 20, marks the second switch in the giant chip maker's executive ranks in a year. It also represents the next step in the transition of leadership at Intel.
In May 1997, Intel shifted its three-person executive office, with Barrett becoming president, and then-president and CEO Grove adding the title of chairman of the board. Chairman Gordon Moore, cofounder of Intel, became chairman emeritus.
Grove participated in the founding of Intel in 1968. In 1979, he was named its president, and in 1987, he became chief executive officer.
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