KXNT_35x90 cbssports1140-horizontal-small

News

Intel CEO Otellini Retiring In May

View Comments
File photo of Intel CEO Paul Otellini. (credit: Kevork Djansezian/Getty Images)

File photo of Intel CEO Paul Otellini. (credit: Kevork Djansezian/Getty Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

SANTA CLARA, Calif. (AP) — Intel says its CEO, Paul Otellini, plans to retire in May after nearly 40 years with the company.

Intel Corp. said Monday that its board will look at company executives as well as external candidates to replace Otellini. He has been head of the world’s largest chip-maker for eight years.

Intel says it has also promoted three executives to executive vice president: Renee James, head of Intel’s software business; Brian Krzanich, chief operating officer and head of worldwide manufacturing; and Stacy Smith, chief financial officer and director of corporate strategy.

The Santa Clara, Calif., company’s shares are up 16 cents at $20.35 in premarket trading Monday.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus