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.
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.
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...
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.
@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...