'I know that most of you are still absorbing the news that I have decided to retire from Intel after almost 40 years with the company, and 8 as your CEO. Frankly, I am still absorbing it. At one level, you are living through history, as we have only changed CEOs five times in our 45 years as a company. Yet change is inevitable. In our company, in our industry, and not least, in our products.
For me, it was just time. Time for me to stop doing a job that I love dearly, in a company that I love deeply, a place which has given me the privilege of working everyday alongside remarkable people who have built one of the greatest companies in history. When May comes around, it will be the first time in four decades that I will not get up, dress, and clip my Intel blue badge onto my belt.
Important as it has been for me to be your CEO, no individual trumps the collective strength and intelligence of our amazing company. We will thrive because of the talent, dedication and competitiveness of our people. I will remain fully engaged as CEO over the next six months and work with Andy, the Board and our management team to ensure an orderly succession. Intel will benefit now, as it has many times over the years, from Andy's steady hand and profoundly sound judgment. We both have very high confidence that our deeply experienced leadership team will continue to execute the business strategy we have laid out.
Intel is a great company, and a timeless one. We evolve. We compete. We succeed where others fail. We are not the same company we were in 2005. We are not the same company I joined way back in 1974. But we are still Intel. Our values are enduring, and therefore so are we if we adhere to them.
There is no perfect time to leave. But this is the right time for me to do this. I take great comfort and a good deal of pride in what we have accomplished together. Growing the company to over $50 billion in revenue, reinventing the PC, seeing the first phones and tablets for sale with Intel Inside them, and seeing the emergence of a vast network of cloud-based computing all built with our products. These are all things that were barely imaginable when I became CEO in 2005.
I have been honored to work here and to lead you. I am not going away for six more months, so this is not goodbye. But it was important to me that I speak to you in my voice and share my thoughts with you. Thanks for taking the time to read this.'
When 14nm production comes out, Otellini's legacy will be clearly established. In the meantime the #$%$ on Chump Street can continue their character assassination. It's still all about the fabrication and this will become more and more apparent during 2013. The mobility war is just gearing up. Intel is building tanks while ARM is building pop guns. The outcome is well-defined and won't end well for ARM. I'm content to sit back and watch...
I hope they hire Andy for the CEO job, then I know AMD has a chance. BTW, that was really touching (needed a hanky for that one), Intel has always been the "spin king" of the world-it started with the "Blue Men" LOL, but that message from Paul O. takes the cake! Paul has a lot to be proud of, no one could do a better job of putting companies out of business then he has! I think he is one of the most disgraceful CEOs to ever run a company. See ya, Paul! ;)
'Paul has a lot to be proud of, no one could do a better job of putting companies out of business then he has!'
That is any CEO's job or should be, in AMD's case the CEOs are making a great attempt at putting their own company out of business ;-). AMD produced one great core, K7 Athlon and then added a memory controller at K8 Athlon64 and extra cache at K10 and that was it in well over 10 years or at least was until the worst performance processor ever designed, Bulldozer, was released.