Intel Corporation announced yesterday that its CEO Paul Otellini, who has held that position since 2005, will retire at the company’s annual stockbrokers’ meet in May 2013. Otellini, who is 62, has served the world’s top chip maker for close to 40 years.
The six month timeframe will give Intel enough time to select a successor to Otellini. Intel has stated that it will consider both internal as well as external candidates for the post.
During Otellini’s reign as the CEO, Intel introduced some major innovations:
- Innovated with high-K, metal-gate and 3D Tri-gate transistors improving the efficiency of Intel processors
- Acquired security firm McAfee
- Introduced Ultrabooks category
- Delivered the first set of smartphones sporting an Intel Medfield SoC
- Grew the vast network of cloud-based computing built on Intel products
“I’ve been privileged to lead one of the world’s greatest companies,” Otellini said. “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.”
Source: Intel Newsroom