EDGE 2015 is starting in

Find out more EDGE 2015
Menu
Intel CEO Otellini to leave company in May

Intel CEO Otellini to leave company in May

Otellini was chief executive since 2005

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 loek_essers@idg.com

EDGE 2015:: For all the latest on EDGE 2015 including the keynote speakers visit the EDGE mini-site now

2015 ARN ICT Industry Awards: Nominations for the 2015 ARN ICT Industry Awards close on June 26. NOMINATE NOW!!!

Follow Us

Join the ARN newsletter!

Error: Please check your email address.

Tags business issuespaul otelliniintelrestructuring

Upcoming

Slideshows

In Pictures: Robots that cook, clean, sing and dance
Tech Hive

In Pictures: Robots that cook, clean, sing and dance

Cooking, learning language and doing the laundry are a few of the human skills demonstrated by.real humanoid bots featured in the National Geographic movie Robots.

In Pictures: Robots that cook, clean, sing and dance
IN PICTURES: OKI Data Australia partner event (+10 photos)
Business Products

IN PICTURES: OKI Data Australia partner event (+10 photos)

OKI recently hosted its ChannelOne dealer forum for its executive series channel partners to get together and learn about the company's new high-performance ES8400 A3 multifunction series printers. After a welcome and business overview from OKI Data Australia managing director, Dennie Kawahara, delegates were given a comprehensive overview of the new product, as well as an update on the latest marketing initiatives and software solutions, before being treated to live demos and a product showcase. Partners were also given a preview of OKI’s upcoming A3 digital LED white toner printer. With more than 60 delegates attending from all over the country, the day concluded with dinner at Casa Ristorante Italiano in Sydney and several delegates also participated in a friendly game of golf the following morning.

IN PICTURES: OKI Data Australia partner event (+10 photos)

iasset.com is a channel management ecosystem that automates all major aspects of the entire sales, marketing and service process, including data tracking, integrated learning, knowledge management and product lifecycle management.

Show Comments