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Intel (INTC) Recruits Ex-Qualcomm Executive Faintucha

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Intel ( INTC) has employed Amir Faintucha, an ex-senior executive at competitor, Qualcomm ( QCOM), to support the company's initiatives in mobile and Internet connected gadgets.

 

The development comes as a surprise because Intel is known for its insular culture. This move clearly shows the company’s willingness to improve its dwindling mobile business. 

 

Before joining Intel as a senior vice president and co-general manager of the Platform Engineering Group, Faintuch, was overseeing Qualcomm’s networking and connectivity businesses as the President of Qualcomm Atheros.

 

Faintuch is expected to bring strong networking skills and experience in system on chips (SOCs) designing to the company.

 

Intel lacks expertise in SoCs, which bring together features like Wi-Fi, modems and memory. Intel is known for creating laptop and desktop computer processors. SoCs are usually found in tablets and smartphones. 

 

CEO Brian Krzanich has made a number of changes to counteract the declining PC sales. He allowed other chipmakers who were ready to pay for an access to Intel's cutting-edge factories.

 

With Intel struggling as a result of declining PC sales and sluggish progress in mobile, Qualcomm, a leader in the smartphone chips industry, has been considered by some as a more attractive place to work.

 

This may have prompted Anand Chandrasekher, an Intel senior executive who had been with the company for 25 years, to join Qualcomm in 2012 as its chief marketing officer.

 

Intel currently sports a Zacks Rank #1 (Strong Buy). Investors can also consider NVIDIA Corp ( NVDA) and Intersil Corp. ( ISIL), both of which carry a Zacks Rank #2 (Buy). 

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