Paul Otellini, Intel’s CEO since 2005 and widely known in Silicon Valley, informed the board on Wednesday that he wanted to retire in May. The 62-year-old had widely been expected to stay in his position until Intel’s mandatory retirement age of 65. Otellini will be ending a nearly 40-year career with Intel, including an eight-year stint as CEO
Otellini’s move comes at a time when Intel faces a shaky economy and a mobile gadget craze that is eating away at demand for its PC chips and it gives the company just six months to find a new leader.
Intel’s board plans to consider candidates inside and outside the company as it searches for Otellini’s successor. In 45 years the company has totaled 5 CEOs, Krzanich has the inside track to become Intel’s CEO. Both Barrett and Otellini served as chief operating officer before becoming CEO.
Intel does need to take this decision seriously they have been on shaky ground as smart phone sales are passing pc sales by almost double. Now with Microsoft having a huge direction change Intel may have to change direction since Microsoft and Intel have a very close relationship.
We wish Paul Otellini a happy and healthy retirement!