Intel decided to change the CEO
Intel announced that the board of directors had appointed Pat Gelsinger as the new CEO. He will take up his duties on February 15 this year while joining the Intel Board of Directors. Bob Swan will remain at the head of the company until February 15th.
Gelsinger returns to Intel
Announcing the change of CEO, the company clarified that this decision is not related to the financial performance for 2020. Intel expects fourth-quarter 2020 revenue and earnings per share to exceed the forecast released on Oct.22, 2020. The report for the quarter and the year is scheduled to be published on January 21, 2021.
Gelsinger is an industry veteran with over forty years, thirty of which he spent at Intel. Since 2012, Gelsinger has been the CEO of VMware, whose annual revenue has nearly tripled under his leadership. Before joining VMware, Gelsinger held a senior management position at EMC, where he moved from Intel. At one time he was the architect of the 80486 processor, led a total of fourteen micro process development programs, played a key role in developing the Core and Xeon families.
“I am thrilled to rejoin Intel and lead the company forward at this important time for the company, our industry and our country,” Gelsinger said. “I started my career at Intel and studied with Grove, Noyce and Moore, so I am honoured to return as a leader. I have a lot of respect for the company’s rich history and powerful technologies that have created the world’s digital infrastructure. I believe that Intel has significant potential to transform the future of technology further and look forward to partnering with Intel’s incredibly talented team to accelerate innovation and create value for our customers and shareholders. ”
