Intel is replacing CEO next month
On February 15th, Bob Swan, CEO of Intel, is resigning from the position, Intel has announced itself. VMware CEO Pat Gelsinger will be coming as a replacement. Two years back, in January 2019, Swan was named permanent CEO of Intel. At first, in June 2018, he took on an interim basis after the resignation of Brian Krzanich, Intel’s previous CEO.
Intel is confronting restored competition across its portfolio. Gelsinger worked at Intel for a very long time, around 30 years, and now he will step into the CEO job at a critical time for the chipmaker. When Apple reported it would progress its Mac lineup away from Intel’s processors, Intel sustained a serious blow a year ago as apple decluttered to looks toward Apple’s own Arm-based designs.
Then, at the end of last year, the first Macs based on Apple’s processors were launched to an immensely positive reaction. Meanwhile, Intel is also encountering competition from the latest Zen processors’ resurgent AMD, which proposes competitive performance for professionals and gamers in both laptops and desktop PCs. According to reports, on news of Gelsinger’s appointment, Intel’s stock was up around 10 percent.
Additionally, the company announced in April 2019 that it was leaving the 5G phone modem market after Qualcomm and Apple royalties dispute and longstanding patent infringement. Intel this way sold most of its smartphones modem business for $1 billion to Apple.
According to a report before its official announcement, Swan had confronted criticism as it had an extensive financial background instead of a technical one. Swan served as eBay’s chief financial officer before working at Intel and has worked at the investment firm General Atlantic.
Omar Ishrak, Intel’s independent board chair, said in a statement that the board is confident that Pat, along with the remainder of the initiative group, will guarantee strong execution of Intel’ strategy to create its product authority and take benefits of huge chances ahead as it keeps on changing from a CPU to a multi-design XPU company.