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.
