I still need the reassurance of a familiar brand before it's a real story - Tony Maddox, CNN senior VP
CHIPMAKER Intel has announced that Brian Krzanich, presently the firm's COO, will succeed Paul Otellini as CEO on 16 May.
Otellini surprised many with the announcement that he will step down from leading Intel, leading to the firm having to round up possible successors. While Intel said it would consider external candidates, most industry watchers and Otellini himself predicted that the next CEO would come from within the company, and today Intel announced that Krzanich, who has spent 31 years at Intel, will head the firm from 16 May.
Krzanich's promotion to CEO comes after a 16 month spell as chipzilla's COO, and despite being on the board for a relatively brief time, he was unanimously voted in for his new role. Krzanich isn't the only person getting a new job title, with Renee James, GM of Intel's Software and Services Group taking the role of president.
Intel chairman Andy Bryant said of Krzanich's appointment, "Brian is a strong leader with a passion for technology and deep understanding of the business. His track record of execution and strategic leadership, combined with his open-minded approach to problem solving has earned him the respect of employees, customers and partners worldwide.
"He has the right combination of knowledge, depth and experience to lead the company during this period of rapid technology and industry change."
Krzanich faces stiff challenges, with Intel absolutely nowhere in the fast growing and lucrative mobile market. He will also need to calm Wall Street fears that the firm will not be able to keep its profit margins high as the costs of developing and maintaining its manufacturing lead grow.
Krzanich will be introduced as Intel's next CEO at the firm's stockholder meeting on 16 May. µ
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