After just two years in the role, Intel Chief Executive and former Chief Financial Officer Bob Swan will step down effective Feb. 15, the company said in a press release on Wednesday. Pat Gelsinger, a chip engineer who spent 30 years at Intel but the last eight years at 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.
Intel has been financially successful in recent quarters, but it's had years of trouble with its core processor manufacturing work, ceding leadership to Taiwan Semiconductor ...
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