Intel CEO Otellini To Retire

SANTA CLARA (CBS/AP) — Intel said its CEO, Paul Otellini, planned to retire in May after nearly 40 years with the company.

Intel Corp. said Monday that its board will look at company executives as well as external candidates to replace Otellini. He has been head of the world’s largest chip-maker for eight years.

Intel says it has also promoted three executives to 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.

The Santa Clara, Calif., company’s shares were up 16 cents at $20.35 in premarket trading Monday.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS San Francisco

Get The New CBS SF Bay Area Local App
Got Our Weather App?

Listen Live