Paul Otellini, the current CEO of Intel, has announced his retirement, effective at the end of the annual stockholder’s meeting in May 2013. This will conclude his 40-year career at Intel (years as CEO), a company which is 45-years old. During his tenure, stockholder dividends were raised by 181% and company generated $107B in cash. As a final contribution, he will help Intel find his replacement.“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.”
Maybe the most surprising part of Intel’s official announcement is that the board of directors is said to be considering both internal and external CEO options. This is quite unusual because Intel typically picks a new CEO from veteran, home-grown, leaders.
Although Paul Otellini has induced the initial impulse towards mobile X86 processors, it is ultimately under his successor’s tenure that Intel’s trajectory will collide with rival ARM in the low-power space.RELATED