Intel’s Bob Swan is reportedly going to step down as CEO effective February 15, CNBC’s David Faber reports. It is said that ex-Intel CTO and now VMWare CEO, Pat Gelsinger, will replace him at the head of Intel.
Robert ‘Bob’ Swan has been Intel’s operating CEO since June 2018, when then CEO Brian Krzanich resigned following a consensual relationship with a fellow employee. At the time the company CFO, Swan took over as interim CEO for the foreseeable, until a replacement could be found. Yet after an exhaustive search, in January 2019, Swan was named permanent CEO.
It is now being reported that Bob Swan will be replaced by Patrick ‘Pat’ Gelsinger, who was Intel’s CTO and a long-standing employee at the company, having been there for almost 30 years before leaving for data-storage company EMC in 2009.
Gelsinger’s appointment, if true, would mark a fascinating shift in the Intel senior leadership. Coming from an all-engineering background, Gelsinger is sure to bring a new technology focus to Intel’s top brass at a time when it’s arguably needed most.
An engineer at the top is likely music to Intel fans’ ears, and it’s looking like shareholders’ too. Just look what happened to AMD when it put a smart engineer in the top position. Intel’s stock is currently up 12% on the report breaking.
Bob Swan has presided over a difficult time in Intel’s history, it must be said, most of which was already barrelling towards the company long before Swan took the helm. One of his first acts as interim CEO was to pen an open letter regarding supply constraints at the company, and despite record financials, the company has been in rough waters since.
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