What just happened? Intel on the third day of CES 2021 revealed that Bob Swan will be stepping down as chief executive officer next month. Intel said the announcement is unrelated to the company’s 2020 financial performance, adding that it expects fourth quarter revenue and earnings per share to exceed prior guidance.
Swan assumed the role of interim CEO following the resignation of Brian Krzanich in June 2018 after Intel learned of a consensual relationship Krzanich had with an Intel employee. Following a seven-month search, Intel’s board removed the interim tag and Swan officially became the seventh CEO in the company’s history.
Swan will be replaced by Pat Gelsinger, “a proven technology leader with a distinguished track record of innovation, talent development, and a deep knowledge of Intel,” said Omar Ishrak, independent chairman of the Intel board.
Gelsinger, the first ever chief technology officer for Intel, worked ...
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