LONDON – Intel Corp. said Monday (Nov. 19) that Paul Otellini will retire as CEO and director of the chip maker in May.
Otellini's retirement coincides with Intel's annual shareholders' meeting
Intel said it will consider both internal and external candidates for the top post. Otellini has worked for Intel for nearly 40 years and served as CEO for the last eight.
"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," Intel board chairman Andy Bryant said in a statement.
"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 adviser to management after retiring as CEO," Otellini added.
Intel also announced the promotion of three senior officials to the position of 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.
During Otellini's tenure, Intel said it generated $107 billion from operations and made $23.5 billion in dividend payments. Over the same period, annual revenue grew from $38.8 billion to $54 billion, while annual earnings per share grew from $1.40 to $2.39.
I hear this is a results of Intel's mobile designs (Atom) are not competitive with the latest Cortex A15 (Snapdragon S4, A6X, Samsung Exynos and soon Nvidia Tegra 4). Asia OEMs have seen Atom 32 and 22nm roadmap and it is very uncompetitive. Intel sales team was saying it results from poor Power/Performance/Area metrics of Intel 22nm node. Now we are hearing Intel 14nm not going well and mobile parts pushed to 2H/14.
This is why Intel needs new leadership. Head hunter search by Intel is looking for someone from outside with mobile phone experience.
Paul Otellini was paid a package worth $17 million for his efforts in 2011 http://www.eetimes.com/electronics-news/4370482/Intel-CEO-pay-2011
So if you think you can do a better job perhaps you should ask for $20 million.
How about Dadi, I use to work under him. He is a man who could turn things around... need to look at the entire cellphone in holistic manner (platform...). someone needs to make a difference rather than saying moore law in ever IDF (do not take me worng I have high respect for Gordon Moore).
US Made - I also worked Intel and agree.
"Moore's Law" is not a business model but that has been Intel's plan under Otellini. Silicon technology keeps changing for no real benefit at communication SOC level. Intel silicon manufacturing also does not understand low cost.
My old Intel group still using foundry and would like to continue to use foundry rather than use Intel internal silicon.
Andy Bryant is just wrong when he says " Intel can meet (the mobile challenge) though its superior chip making technology" .
Otellini/Bryant just do not mobile SOC design and the failed high cost silicon strategy (copy exactly, design rule restrictions, Et cetra).
Intel has been talking about a process technology lead for 15 years that would allow Intel to win the mobile market that has clearly not worked
See this 15 year old Intel propaganda
Bryant again saying more of the same
"Otellini felt it was time to turn over the reins to a new generation as Intel admittedly faces challenges in the mobile computing arena — challenges, however, that Bryant feels Intel can meet through its superior chip-making technology."
Insanity to keep doing the same thing over and over and expect a different result.
Time for an outsider to clean house and install a new management team that understand what it takes to win in mobile.
@yalanand, very simple,
Robert noyce, moore, grove... all get phd in science from top tier college( mit, caltech).
the way Otelini look at a chip is just like a girl look at a shoe, he can't tell what's really driven it. all he know is how attractive it looks.
check ultrabook as a good example...
Apple has made a good career out of making consumer electronics look seductively attractive, to the extent that many people would pay a premium to own Apple products.
That said, ultrabook is just the PC world catching up with thin light Mac computers, and not really a differentiator.
lol, the difference is intel is a chip company instead of a PC company.
he need to make it faster, cheaper, cooler, more energy efficient etc.
Otellini apparently has no clue on any of these factors...
Being the CEO for Intel for 8 to 9 years is highly responsible and also fully loaded. People achieved their targets will always have the self satisfaction and they set an example to be followed by others.
David Patterson, known for his pioneering research that led to RAID, clusters and more, is part of a team at UC Berkeley that recently made its RISC-V processor architecture an open source hardware offering. We talk with Patterson and one of his colleagues behind the effort about the opportunities they see, what new kinds of designs they hope to enable and what it means for today’s commercial processor giants such as Intel, ARM and Imagination Technologies.