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Intel Corp. (INTC) CEO, Paul Otellini To Retire In May 2013

Intel Corporation (NASDAQ:INTC) CEO and President Paul Otellini will retire next year, May 20, the software chip maker has announced. The long serving director will retire both as a director and officer of the company in a shareholders meeting in May-13.

According to Business Week, Intel “said yesterday that it named Chief Operating Officer Brian Krzanich, Chief Financial Officer Stacy Smith and software head Renee James to the position of executive vice president”.

Intel is the worlds largest chip maker and will need a someone to fill the shoes of the veteran CEO once he retires in May. The company is assessing its options, both internally and externally.

In the report, Craig Berger, an analyst at FBR Capital Markets & Co. noted, “I don’t know if any of them have the star power that you may need in a new Intel CEO, “it’s going to be a difficult and challenging transition for anybody.”

Berger highlighted that an executive from the mobile or semiconductor industry, for instance, someone from, Apple Inc. (NASDAQ:AAPL), or Qualcomm Inc. (NASDAQ:QCOM) could be a better fit. The analyst also added, “Sanjay Jha, former CEO of Motorola Mobility Holdings Inc., should be considered, said Doug Freedman, an analyst at RBC Capital Markets”.

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About Nicholas Maithya

I am a writer focussing on disruptive technology, Fintech, Big Data and Internet of Things, Online Marketing trends, and investments. When I am not writing about these, I am probably in the gym working out, out and about with family, watching the news (basically business/technology) or soccer. That's why I do sometimes cover soccer-related stories.

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