Intel has appointed veteran executive Brian
Krzanich as its new chief executive officer, taking over from Paul
Otellini, who is set to step down this month, the computer chip giant
announced Thursday.
Krzanich, 52, has served as the company's chief operating officer
since January 2012, and has filled a wide variety of positions at the
company since joining Intel in 1982.
He will take over from Otellini on May 16, becoming the sixth CEO
in the history of the computer industry pioneer. Otellini headed the
company for eight years. Intel also named Renee James as president,
also effective May 16.
The transition comes as Intel struggles to retain its dominance in
the computer chip market as the industry moves away from the PC
model, where Intel had a near-monopoly, to an array of smartphones
and tablet computers that run on chips designed by rival ARM.
The company recently reported first-quarter results that included
a 25-per-cent drop in net income to 2 billion dollars and a
2.5-per-cent decline in revenue to 12.6 billion dollars.
"After a thorough and deliberate selection process, the board of
directors is delighted that Krzanich will lead Intel as we define and
invent the next generation of technology that will shape the future
of computing," said Andy Bryant, chairman of Intel.
"I am deeply honoured by the opportunity to lead Intel," Krzanich
said.
"We have amazing assets, tremendous talent and an unmatched legacy
of innovation and execution. I look forward to working with our
leadership team and employees worldwide to continue our proud legacy,
while moving even faster into ultra-mobility, to lead Intel into the
next era."
