Dear Visitor,

Our system has found that you are using an ad-blocking browser add-on.

We just wanted to let you know that our site content is, of course, available to you absolutely free of charge.

Our ads are the only way we have to be able to bring you the latest high-quality content, which is written by professional journalists, with the help of editors, graphic designers, and our site production and I.T. staff, as well as many other talented people who work around the clock for this site.

So, we ask you to add this site to your Ad Blocker’s "white list" or to simply disable your Ad Blocker while visiting this site.

Continue on this site freely
  HOME     MENU     SEARCH     NEWSLETTER    
NEWS & INFORMATION FOR TECHNOLOGY PURCHASERS. UPDATED 6 MINUTES AGO.
You are here: Home / Chips & Processors / Otellini Retiring from Helm at Intel
Intel CEO Paul Otellini Retiring from Helm
Intel CEO Paul Otellini Retiring from Helm
By Barry Levine / NewsFactor Network Like this on Facebook Tweet this Link thison Linkedin Link this on Google Plus
PUBLISHED:
NOVEMBER
19
2012

Relevant Products/Services CEO Paul Otellini, a major fixture in the technology universe, has announced that he will retire as a company officer and director. His retirement, scheduled for the stockholders' meeting in May, follows a career of nearly 40 years with the industry's dominant chipmaker.

Andy Bryant, chairman of the board, said in a statement that Otellini "has been a very strong leader," and noted that he has only been the fifth CEO in the company's 45 years of existence. The retirement date provides six months for a transition to a new CEO.

'New Generation'

For his part, Otellini, 62, told news media that, after nearly four decades with Intel, including eight years as CEO, "it's time to move on and transfer Intel's helm to a new generation of leadership."

Otellini's successor will find a rapidly changing environment in the semiconductor industry. Intel's profit in the third quarter fell 14 percent due to higher expenses and a drop in personal computers, as the industry moves toward Relevant Products/Services and Intel tries to compete in that space. Intel remains king for desktop and laptop PCs, whose lessening demand may pick up in response to the recent release of Windows 8.

His successor will also have a significantly large pair of shoes to fill. During the time he's been CEO -- from the second quarter of 2005 through the present -- the company has seen $107 billion in revenue from operations, distributed $23.5 billion in dividends, and increased the quarterly dividend 181 percent from $0.08 to $0.225. The company had record annual revenue and net income during this time, growing from $38.8 billion to $54 billion.

'Hand-Picked'

Otellini generally receives high marks for streamlining the company's operations and cost structure, originating and launching the Ultrabook form factor and spec, increasing partnerships, and launching the first smartphones and tablets with Intel processors. The company also achieved dramatic improvement in the energy efficiency of its processors, and such innovations as High-K/Metal gate and 3D Tri-gate transistors, during his tenure.

Laura DiDio, an analyst with Information Technology Intelligence Consulting, noted that Otellini had been "hand-picked" by the previous CEO, Craig Barrett, who himself had been hand-picked by the legendary trio that started the company -- Robert Noyce, Gordon Moore and Andy Grove.

She pointed out, unlike some recent, forced transitions in other companies, this one is "natural," as indicated by the fact that his departure is six months hence. DiDio expressed some surprise that the search will be both internal and external. She said that she thought "they'd already have someone in mind," although she did note that three new promotions could position their occupants for the top job at some point.

Along with the announcement of Otellini's retirement, Intel said it was promoting three executives to the position of executive vice president. These are Renee James, head of software, Brian Krzanich, COO and head of worldwide manufacturing, and Stacy Smith, CFO and director of corporate strategy.

Tell Us What You Think
Comment:

Name:

Like Us on FacebookFollow Us on Twitter
MORE IN CHIPS & PROCESSORS
NEWSFACTOR.COM
NEWSFACTOR NETWORK SITES
NEWSFACTOR SERVICES
© Copyright 2016 NewsFactor Network. All rights reserved. Member of Accuserve Ad Network.