Intel Board Elects Brian Krzanich as CEO
Last update: 5/2/2013 9:00:11 AM
Renee James Elected President
SANTA CLARA, Calif., May 02, 2013 (BUSINESS WIRE) -- Intel Corporation announced today that the board of directors has unanimously elected Brian Krzanich as its next chief executive officer (CEO), succeeding Paul Otellini. Krzanich will assume his new role at the company's annual stockholders' meeting on May 16.
Krzanich, Intel's chief operating officer since January 2012, will become the sixth CEO in Intel's history. As previously announced, Otellini will step down as CEO and from the board of directors on May 16.
"After a thorough and deliberate selection process, the board of directors is delighted that Krzanich will lead Intel as we define and invent the next generation of technology that will shape the future of computing," said Andy Bryant, chairman of Intel.
"Brian is a strong leader with a passion for technology and deep understanding of the business," Bryant added. "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, 52, has progressed through a series of technical and leadership roles since joining Intel in 1982.
"I am deeply honored by the opportunity to lead Intel," said Krzanich. "We have amazing assets, tremendous talent, and an unmatched legacy of innovation and execution. I look forward to working with our leadership team and employees worldwide to continue our proud legacy, while moving even faster into ultra-mobility, to lead Intel into the next era."
The board of directors elected Renee James, 48, to be president of Intel. She will also assume her new role on May 16, joining Krzanich in Intel's executive office.
"I look forward to partnering with Rene
So glad you think so..Unfortunately, the price drop this morning in reaction to the Board's boring pick, says it all. Unimaginative and staid, exactly what Paul O was for these past 'cluless' years. Now we have to wait and claw our way up like S through a keyhole, in the hopes that this lumbering giant awakens. Extremely disappointing choice.
It is rumored that per the request of influential stockholders at the stockholders meeting, Intel is going to hire a team of crack consultants from a popular internet message board to play an advisory role for the top executives. In particular they're going to look for long term commitment to Intel's mission and financial objectives as a key criterion is putting together this team. The team will help Renee James plan out strategy for Intel's juggernaut and help out Brian.