Market Overview

UPDATE: Intel CEO Otellini to Retire, Co. Searching for Internal, External Candidates

Related INTC
Micron (MU) Hits a 52-Week High on Positive Q1 Guidance
Sunedison Inc, Intel Corporation Highlight CNBC's Stock Pops & Drops From September 29
Frustrated at Work? You Might Be the Next Jobs (Fox Business)

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.

Posted-In: News Management

 

Related Articles (INTC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters