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Otellini announces retirement from Intel

Otellini announces retirement from Intel

Intel chief executive Paul Otellini is to retire in May 2013, with no successor to the post yet named by the company.

Intel has announced that its chief executive Paul Otellini is to step down in May to enjoy his well-earned retirement after almost 40 years of continuous service at the company.

'I've been privileged to lead one of the world's greatest companies,' claimed Otellini in a statement regarding his impending retirement. '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 [Bryant], 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.'

'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,' added Andy Bryant, Intel's chair, in the announcement. 'The board is grateful for his innumerable contributions to the company and his distinguished tenure as CEO over the last eight years.'

To help fill the hole, Intel has announced that three senior employees are to receive promotions to executive vice president level: 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.

In Otellini's time as chief executive, he oversaw the company's growth to a point of record-breaking revenue and net income: $38.8 billion income when Otellini started has become $54 billion for the last financial year. Under Otellini's tenure, the company has also launched its Ultrabook programme and begun targeting Cambridge-based chip giant ARM in the mobile space with a family of Atom-based system-on-chip products.

While Otellini's outspoken nature - on subjects from Windows 8 to ARM's chances of success against Intel - has sometimes caused embarrassment for the company's partners, there's no denying he's been a force to be reckoned with in the industry. Intel certainly has some big boots to fill in his absence.

How those boots will be filled is, at present, unknown: Intel has yet to announce a successor for the role of chief executive.

12 Comments

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Griffter 19th November 2012, 15:05 Quote
i put my name fwd for the unfilled position. i promise to do my best. i'm a hard worker and i dont steal, my previous job, my boss had me responsible with buy coffee for everyone and trusted me with the money for that.
played field hockey and cricket in school. never was part of the prefect roles, but was because i felt i could do more good outside that school body. i see myself in 5 yrs retiring with the money i made in the position where the company has grown 4 fold due to my vision of the A.I. revolution.

thank you, i look fwd to hearing from you soon. gary
WarrenJ 19th November 2012, 15:23 Quote
Rejected due to inadequate punctuation.
ZeDestructor 19th November 2012, 16:38 Quote
40 years at intel... How old is the chap and what did he do before becoming CEO?
mi1ez 19th November 2012, 16:41 Quote
Quote:
Originally Posted by WarrenJ
Rejected due to inadequate punctuation.

brilliant!
RedFlames 19th November 2012, 18:00 Quote
Quote:
Originally Posted by ZeDestructor
40 years at intel... How old is the chap and what did he do before becoming CEO?

he's 62 [so he's been there since he was 22], and he's only been ceo for 8 of those 40 years, the other 32 he'll have been occupying various other positions at intel
Gareth Halfacree 19th November 2012, 19:06 Quote
Quote:
Originally Posted by ZeDestructor
40 years at intel... How old is the chap and what did he do before becoming CEO?
It's all in here. In short: lots.
ZeDestructor 20th November 2012, 03:00 Quote
Quote:
Originally Posted by RedFlames
he's 62 [so he's been there since he was 22], and he's only been ceo for 8 of those 40 years, the other 32 he'll have been occupying various other positions at intel

As a 21.5-year old ElecEng student, I suddenly feel pathetic and inadequate....
Quote:
Originally Posted by Gareth Halfacree
It's all in here. In short: lots.

A hardware guy! Yay!
Griffter 20th November 2012, 07:44 Quote
Quote:
Originally Posted by WarrenJ
Rejected due to inadequate punctuation.

i reject your rejection! take that!
WarrenJ 23rd November 2012, 13:00 Quote
Quote:
Originally Posted by Griffter
i reject your rejection! take that!

I didn't see the start of a sentance there. Did anyone else? I belive they start with capital letters.
pantalaimon 26th November 2012, 10:34 Quote
Quote:
Originally Posted by WarrenJ
Quote:
Originally Posted by Griffter
i reject your rejection! take that!

I didn't see the start of a sentance there. Did anyone else? I belive they start with capital letters.

believe*
WarrenJ 26th November 2012, 14:38 Quote
Quote:
Originally Posted by pantalaimon
believe*

Thank you. Like I said last time, it won't happen again!
Gareth Halfacree 26th November 2012, 15:12 Quote
Quote:
Originally Posted by WarrenJ
Like I said last time, it won't happen again!
I genuinely laughed out loud at this. I may steal that for the future...
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