Intel CEO Otellini to leave company in May
- 19 November, 2012 14:47
Intel CEO Paul Otellini will retire as an officer and director of the company in May, ending a four-decade career with the company.
Otellini is to retire during a stockholders meeting within six months, making sure the transition to a new CEO is conducted in an orderly manner, Intel said Monday.
"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," the company said.
Otellini has been a "very strong leader" who "has managed the company through challenging times and market transitions," said Andy Bryant, chairman of the board, in a statement. Otellini is the fifth CEO in Intel's 45 year existence.
A successor for Otellini will be sought by the board of directors, which will consider external and internal candidates to take over the helm of the chip manufacturer, Intel said.
During Otellini's leadership from the second quarter of 2005 through the third quarter of 2012, Intel achieved record revenue and net income. "During this period, annual revenue grew from $38.8 billion to $54 billion, while annual earnings-per-share grew from $1.40 to $2.39," Intel said.
The company also said that the board had approved the promotion of three senior leaders 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.
"I've been privileged to lead one of the world's greatest companies," Otellini said in a statement. "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."
Loek is Amsterdam Correspondent and covers online privacy, intellectual property, open-source and online payment issues for the IDG News Service. Follow him on Twitter at @loekessers or email tips and comments to firstname.lastname@example.org
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.
Why change management doesn’t work
Larry Page wants to see your medical records
Dual-Persona Smartphones Not a BYOD Panacea
After two-year hiatus, EFF accepts bitcoin donations again
CIOs struggle to deliver timely mobile business apps: survey
Spear-Phishing Email: Most Favored APT Attack Bait
This research paper presents findings on APT-related spear phishing from February to September 2012. We analysed APT-related spear-phishing emails collected throughout this period to understand and mitigate attacks. The information we gathered not only allowed us to obtain specific details on spear phishing but also on targeted attacks. We found, for instance, that 91% of targeted attacks involve spear-phishing emails, reinforcing the belief that spear phishing is a primary means by which APT attackers infiltrate target networks.
Tolly Report: Performance Survey of Virtual Environment Security
This report by Tolly tests the system resource requirements of competing vendor solutions when performing on-demand and on-access scanning functions, during distributed definition updates. Click to download how the four competing options ranked against each other.
ESG Whitepaper: Integrated Computing Platform Survey
Data centres, servers, storage and more are being combined for simplified management and cost savings. In this survey, ESG looks at the current and future trends surrounding today’s integrated computing solutions. Download to find out how organisations are more likely to see commit IT budgets to the purchase of integrated solutions. Read more.