Feeds

Intel plucks new CEO Brian Krzanich from its own ranks

Can he somehow wrangle vast Chipzilla back onto track?

Build a business case: developing custom apps

Intel has dipped into its own ranks to choose a new CEO who has already clocked up 30 years at the company.

The world’s largest chip manufacturer announced that former chief operating officer Brian Krzanich will be the new chief executive officer, six months after former CEO Paul Otellini announced his retirement following eight years in the job.

The new CEO first started work with the firm in 1982. His selection fits with Intel’s usual practice of appointing inside candidates to top positions.

Krzanich, 52, said: “I am deeply honored by the opportunity to lead Intel. 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.”

Otellini leaves after presiding over a disappointing quarter for Intel. The company earned $12.6bn in revenue for Q1 2013, which is nearly a billion less than the last quarter, and profits dropped 25 per cent to $2bn. Half of this profit will be doled out as a dividend and another $553m used to buy back 25 million Intel shares.

However, analyst KGI Securities analyst Ming-Chi Kuo recently predicted that Intel’s latest Haswell processors would be fitted into the new Macbook Pro and Macbook Air expected to be announced at June’s WWDC.

Intel top brass are hopeful that Krzanich will lead their 50,000 employees towards a more successful quarter - and maintain that success.

The board unanimously voted for Krzanich, who will assume his new role at the company’s annual stockholders’ meeting on May 16.

In a statement, chairman Andy Bryant said: “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.

“Brian is a strong leader with a passion for technology and deep understanding of the business. 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.”

Renée James, 48, has been promoted to the position of president. ®

7 Elements of Radically Simple OS Migration

More from The Register

next story
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?