Intel Corporation today announced that the company's president and CEO, Paul
Otellini, has decided to retire as an officer and director at the company's
annual stockholders' meeting in May, starting an orderly leadership transition
over the next six months. 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 board of directors will conduct the process to choose Otellini's successor
and will consider internal and external candidates for the job.
In addition, the company also announced that the board has 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.
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