News Column

Intel CEO to Retire in May

Nov. 19, 2012

Intel chief executive officer Paul Otellini will retire in May after eight years at the helm of the computer chip giant, the company announced Monday.

"I've been privileged to lead one of the world's greatest companies," Otellini said in statement. "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."

Intel said it was searching for Otellini's successor both inside and outside the company.

With a market capitalization of 100 billion dollars, Silicon Valley-based Intel is one of the most valuable companies in the world and a bellwether for the entire PC industry.

Intel supplies the computer chips that run more than 90 per cent of personal computers, but the rise of smartphones and tablet computers has hit its sales at the same time as a sluggish global economy has also dented demand.

Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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