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Intel names interim chief Bob Swan as permanent CEO

CHIPMAKER Intel has named Robert (‘Bob’) Swan as its new CEO, seven months after giving him the job on an interim basis following Brian Krzanich’s debauched departure.

Swan took the reigns of Intel back in June, when Krzanich was forced to resign after he was caught engaging in a “consensual relationship with an Intel employee”, breaking its non-fraternisation policy that applies to all managers. 

Intel announced on Thursday that Swan, who previously served as the company’s chief financial officer, has been given the CEO role on a permanent basis. Other candidates reportedly Intel chief engineering officer Venkata Murthy Renduchintala, Intel data centre head Navin Shenoy, Apple hardware executive Johny Srouji and Qualcomm President Cristiano R. Amon.

Todd Underwood, Intel’s vice president of finance, has been appointed interim CFO while the company searches for a permanent successor.

Swan, who began his career at General Electric and spent nine years as CFO of eBay, quipped: “In my role as interim CEO, I’ve developed an even deeper understanding of Intel’s opportunities and challenges, our people and our customers.

“When I was first named interim CEO, I was immediately focused on running the company and working with our customers. When the board approached me to take on the role permanently, I jumped at the chance to lead this special company.

“This is an exciting time for Intel: 2018 was an outstanding year and we are in the midst of transforming the company to pursue our biggest market opportunity ever. I’m honoured to have the chance to continue working alongside our board, our leadership team, and our more than 107,000 superb employees as we take the company forward.”

It might be an “exciting” time for Intel, but it’s also a challenging one: the company faces increased competition from long-time rival AMD, earlier this month announced that its 7nm CPUs will arrive mid-2019, months before Intel is expected to release its first, long-awaited 10nm processors.

The firm has also been battling a CPU shortage in recent months, which Microsoft this week blamed for slowing Windows licensing revenues. µ

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Source : Inquirer

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