- Times wins two awards from Society for Professional Journalists
- Marionville mayor ‘kind of agreed’ with Kansas City shooter’s views
- Rev. Al Sharpton’s Easter message: Politically ‘crucified’ Obama has risen again
- Supreme Court to weigh challenge to ban on campaign lies
- UNICEF launches ‘Mr. Poo’ mascot in India to curb public defecation
- Teen taking selfie by train: ‘Wow, that guy just kicked me in the head’
- Goodbye, Afghanistan — hello, Africa: Air Force to shift as U.S. exits Middle East
- Iran mulls ban on vasectomies, decrease on abortions to bolster population
- CNN op-ed claims right-wingers ‘more deadly than jihadists’
- Classes resume at high school rocked by stabbings
Intel CEO Paul Otellini to retire in surprise move
SAN FRANCISCO (AP) - Intel CEO Paul Otellini dropped a bombshell on the company’s board of directors last week, telling them in private that he plans to retire from the world’s largest maker of microprocessors in May. Otellini’s move comes at a time when Intel faces a shaky economy and a mobile gadget craze that is eating away at demand for its PC chips _and it gives the company just six months to find a new leader.
“The decision was entirely Paul’s,” said Intel spokesman Paul Bergevin. “The board accepted his decision with regret.”
Otellini will be ending a nearly 40-year career with Intel, including an eight-year stint as CEO by the time he leaves. He joined the Santa Clara, Calif. company after graduating from the nearby University of California at Berkeley and worked his way up the ranks before succeeding Craig Barrett as CEO in May 2005.
Otellini and the four other men who have been Intel’s CEO during the company’s 45-year history have all been promoted from within. The company’s board is believed to be leaning in that direction again.
Intel identified the leading internal candidates Monday by anointing three of Otellini’s current lieutenants as executive vice presidents. They are: 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.
Although Otellini is generally well regarded, he has faced criticism for initially underestimating the impact that smartphones and tablet computers would have on the personal computer market. It was a pivotal change that also confounded Microsoft Corp. CEO Steve Ballmer, whose software company makes the Windows operating system that runs most of the PCs relying on Intel’s chips.
“The shift came more quickly than they expected, and when they did finally see what was happening, they were a little late to react,” said technology analyst Patrick Moorhead of Moor Insights & Strategy.
Indeed, in 2008, nearly 300 million PCs were sold and most of them were powered by Microsoft’s Windows and Intel’s microchips, according to Forrester Research. Some 142 million smartphones sold that year, at a time when the tablet market hadn’t really taken off. That wouldn’t happen until Apple’s 2010 release of the iPad.
By contrast, this year, Forrester estimates 330 million PCs will be sold worldwide compared with 665 million smartphones and just over 100 million tablets. By 2016, Forrester predicts annual sales of PCs will rise only slightly to 370 million machines while more than 1.6 billion smartphones and tablets will be purchased.
TWT Video Picks
By John R. Bolton
Reality calls for attaching Gaza to Egypt and the West Bank to Jordan
- 'Culture of intimidation' seen in Nevada ranch standoff
- Air Force sees resource shift as U.S. exits Afghanistan, heads to Africa
- FISHER: Shades of Berlin in the South China Sea
- GOP writes legislation to deny Attorney General Eric Holder his salary
- Nevada Bundy ranch standoff could leave dirt on Harry Reid reputation
- CNN op-ed claims right-wingers 'more deadly than jihadists'
- Russian fighter jet buzzes U.S. Navy destroyer in Black Sea
- BOLTON: A 'three-state solution' for Middle East peace
- IRS emails reveal discussion with Justice about suing nonprofits for election activities
- Atheists rush to stage Easter display: 'Jesus Christ is a myth'
Celebrity deaths in 2014
Top 10 handguns in the U.S.