Intel CEO Paul Otellini is going to retire in May 2013 after working at Intel for 40 years. In about 8 of those years, Mr. Otellini served as CEO. Following his retirement, Mr. Otellini will serve as an advisor to Intel’s management.
“I’ve been privileged to lead one of the world’s greatest companies. After almost four decades with the company and eight years as CEO, it’s time to move on and transfer Intel’s helm to a new generation of leadership,” stated Mr. Otellini. “I look forward to working with Andy, the board and the management team during the six-month transition period, and to being available as an advisor to management after retiring as CEO.” Andy Bryant is Intel’s chairman of the board.
Intel is going to start a 6-month transition period today, but the company does not yet know who will be Mr. Otellini’s replacement.