Intel replaces its chief executive after a rocky stretch

13 Janvier, 2021, 22:16 | Auteur: Auguste Feret
  • Intel CEO Bob Swan to Step Down in February

Gelsinger has been the CEO of VMware and has more than four decades of experience in the tech industry.

Having previously worked at Intel before VMWare, Gelsinger became the company's first Chief Technology Officer. During that time, he successfully guided the company, whose software helps companies squeeze more work out of data centre servers, through the transition from privately owned data centres to public cloud providers, in part by striking a seminal deal with Amazon.com's Amazon Web Services. "In addition, the company has made strong progress on its 7nm process technology and plans on providing an update when it reports its full fourth-quarter and full-year 2020 results as previously scheduled on January 21, 2021", Intel said. "We have transformed the global technology landscape for the better, and I am confident that the company will continue to excel as they enable customers with the digital foundation for an unpredictable world". Last July, Intel announced that its 7nm process had a defect, forcing the company to postpone its launch until late 2022 to early 2023.

During Swan's tenure, Intel has faced a range of considerable setbacks.

Loeb pushed Intel to find new executives and potential new board members and held at least one followup meeting.

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Intel CEO Bob Swan will step down next month, the computer chip giant said on Wednesday, weeks after a hedge fund sent a letter demanding changes in its business.

Intel's statement on the change-up tries to portray the company as holding a strong position in the chip market. The issue is, what's the ship look like that he's going to be running?

Swan, a former chief financial officer at Intel, assumed interim leadership in 2018 after CEO Brian Krzanich resigned after the company learned of what it called a past, consensual relationship with an employee.

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