Intel told stockholders that CEO Paul Otellini would retire in May after eight years at the helm of the world’s largest chipmaker. So far, no successor has been named. His decision to retire comes as Intel’s x86 architecture is facing a an existential threat brought about by a need for more efficient computing for both mobile devices and inside the data center.
From the release sharing the news.
“I’ve been privileged to lead one of the world’s greatest companies,” Otellini said. “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.”