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Intel CEO Bob Swan will step down next month

James Martin/CNET

After just two years in the role, Intel CEO Bob Swan will step down effective Feb. 15, the company said in a press release on Wednesday. Pat Gelsinger, the CEO of software company VMware, has been appointed the new CEO of Intel.

"The board is confident that Pat, together with the rest of the leadership team, will ensure strong execution of Intel's strategy to build on its product leadership and take advantage of the significant opportunities ahead as it continues to transform from a CPU to a multi-architecture XPU company," said Omar Ishrak, independent chairman of the Intel board, in the release.

The news was reported earlier Wednesday by CNBC.

Swan was named CEO in January 2019 after serving as interim CEO following the surprise resignation of former CEO Brian Krzanich in June 2018. Before becoming CEO, Swan served as Intel's chief financial officer. 

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