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

ARN Survey on MSPs
ARN needs to profile the Managed Service Provider (MSP) in YOU!, so please spare a moment and TAKE THE MSP SURVEY NOW

Follow Us

Join the ARN newsletter!

Error: Please check your email address.

Tags business issuespaul otelliniintelrestructuring



IN PICTURES: Klikon Solutions Charity Golf Day (+51 images)

IN PICTURES: Klikon Solutions Charity Golf Day (+51 images)

Klikon Solutions held a Charity Golf Day out at Macquarie Links in Sydney to help raise money for charities Ronald McDonald House and Save our Sons. ARN was onhand in blistering 39 degree conditions to witness all the worm burners first hand. Pictures by Allan Swann

IN PICTURES: Klikon Solutions Charity Golf Day (+51 images)
IN PICTURES: Exclusive Networks - 007 Spectre night (+18 images)

IN PICTURES: Exclusive Networks - 007 Spectre night (+18 images)

Exclusive Networks, in conjunction with LogRhythm and FireEye, held an event to focus on fighting cybercrime with disruptive technologies at the Hayden Orpheum Theatre in Sydney. As part of the 007 - Spectre film theme, guests were invited to attend in their best James Bond attire. Pictures by Allan Swann

IN PICTURES: Exclusive Networks - 007 Spectre night (+18 images) 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