Intel has announced that its CEO, Bob Swan, will step down from the position on 15th February 2020. Two years ago, Swan became the permanent CEO in January 2019. He initially started out as the interim CEO in June 2018 after former CEO Brian Krzanich resigned.
VMware CEO Pat Gelsinger become the new Intel CEO after Swan leaves the position. Gelsinger had previously worked at Intel for 30 years. His stepping into the role marks a crucial time for the chipmaker.
The company faces increasing competition and it’s not doing so well to stay ahead. Apple’s announcement to transition its Mac lineup towards its own Arm-based designs, usurping a major market for the company. Apple also got a favorable response from the market for its first sets of Mac that shipped with the new processors in 2020.
– TikTok Announces More Privacy Settings For Young Teenagers
– Google Says It’s Working On Notification Issues With COVID Tracing Apps
– Intel Is Set To Stop Selling Its Ninth-Gen Core Processors
The company also announced it was exiting the 5G phone modem market in April 2019, selling off majority of its stake in the market to Apple for $1 billion. This follows Apple and Qualcomm’s resolution of their longstanding patent infringement and royalties dispute.
Swan had also served as eBay’s chief financial officer. Gelsinger however has a more technological background beginning his career at Intel as its first chief technology officer.
“The board is confident that Pat, together with the rest of the leadership team, will ensure strong execution of Intel’s strategy to build on its product leadership and take advantage of the significant opportunities ahead as it continues to transform from a CPU to a multi-architecture XPU company,” Intel’s independent board chair, Omar Ishrak, said in a statement.
For your daily dose of tech, lifestyle, and trending content, make sure to follow Plat4om on Twitter @Plat4omLive, on Instagram @Plat4om, on LinkedIn at Plat4om, and on Facebook at Plat4om. You can also email us at firstname.lastname@example.org and join our channel on Telegram at Plat4om. Finally, don’t forget to subscribe to our YouTube channel HERE.