It is in a blog post that Intel announced the resignation of whoever was CEO for two years, Bob Swan. From February 15, 2021, the man will step down in favor of Pat Gelsinger, the current CEO of VMWare and historical representative of the American manufacturer.
Bob Swan resigns as CEO
Bob Swan joined Intel in 2018 as interim CEO after Brian Krzanich left. It will finally be January 2019 that his appointment becomes final. Just two years after officially taking office Bob Swan announced his resignation. In the statement released by Intel, the man explains:
“My goal over the past two years has been to position Intel for a new era of distributed intelligence, improve our CPU franchise, and expand our reach to accelerate our growth. With significant progress made on all of these priorities, now is the right time to move on to become Intel’s next leader. “”
If Bob Swan doesn’t accurately describe the reasons for his departure, our colleagues are from Wall Street Journal claim that His resignation was reportedly prompted by activist hedge fund Third Point LLC. Indeed, in December 2020, its CEO would have sent a letter to Omar Ishrak, chairman of Intel’s board of directors, confirming that the “Society’s troubles could undermine the American technology industry.”. Then he asked the manufacturer Consider alternatives, including selling some of its acquisitions and the division of its design and manufacturing processes.
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Intel in trouble?
Despite positive financial results Intel is now in a delicate position. It must be said that the sector is going through a phase of transformation that is as rapid as it is radical. First, Apple decided to develop its own processors Mac, so away from those from Intel. Parallel to, Arm has also entered the PC marketJust like Nvidia plans to buy the company for $ 40 billion. Without relying on it AMD resurfacing in the x86 chip marketor Intel’s core business.
Extremely fierce competition on the Intel has fallen behindespecially with regard to the size of its electronic chips. The 14 nanometers arrived three years later than expected, and the 7 nm was already suffering from a six month delay. This already complex situation mixes with the Covid-19 pandemic that has weakened supply chains and the trade war between China and the United States.
Pat Gelsinger will take over on February 15th
It is so in this particularly delicate context Pat Gelsinger takes over the management of Intel on February 15th. If he is quickly confronted with major challenges, the man can count on his many years of experience in the company to master them. Before being named CEO of VMWare, He worked at Intel for 30 years. A trained engineer, he became the first CTO and headed the company’s largest business unit.
His appointment was therefore an obvious choice for Intelas Omar Ishrak notes: “The Board of Directors is confident that Pat, along with the rest of the management team, will ensure a strong execution of Intel’s strategy to strengthen its product leadership and capitalize on the important opportunities presented to him.” as it continues to transform from a CPU company to an XPU company with multiple architectures “.
A choice also endorsed by Bob Swan: “I fully support the Board’s election of Pat and have no doubt that under his leadership and that of the rest of the management team, Intel will continue to be one of the most influential technology companies in the world.“.
After all, Pat Gelsinger was also enthusiastic in relation to taking over his new functions: “I am delighted to join and develop Intel at this important time for the company, our industry and our country (…). It is a privilege and an honor for me to return to this leadership position. I have great respect for the company’s rich history and the powerful technologies that created the global digital infrastructure. I believe Intel has significant potential to further shape the future of technology, and I look forward to working with Intel’s incredibly talented global team to accelerate innovation and create value for our customers and customers. Shareholders“.