Intel CEO Paul Otellini to Retire in May
"Paul Otellini has been a very strong leader, only the fifth CEO in the
company's great 45-year history, and one who has managed the company
through challenging times and market transitions," said
"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."
The board of directors will conduct the process to choose Otellini's successor and will consider internal and external candidates for the job.
In addition, the company also announced that the board has approved the
promotion of three senior leaders to the position of executive vice
During Otellini's tenure as CEO -- from the second quarter of 2005
through the third quarter of 2012 --
Generated cash from operations of
$23.5 billionin dividend payments
Increased the quarterly dividend 181 percent from
From the end of 2005 through the end of 2011,
In addition to financial performance,
- Transformed operations and the cost structure for long-term growth
Achieved breakthrough innovations, including High-K/Metal gate and now
3-D Tri-gate transistors; and dramatic improvement in energy
- Reinvented the PC with Ultrabook™ devices
- Greatly expanded business partnerships and made strategic acquisitions that expanded Intel's presence in security, software and mobile communications
Delivered the first smartphones and tablets for sale with
Grew the vast network of cloud-based computing built on
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