Intel's CEO search is over - Bob Swan will be its chief executive moving forward

Intel

Intel's search for a permanent CEO is over.

The company announced on Thursday morning that Robert "Bob" Swan, who has been serving as interim CEO for much of the last year, will be its chief executive moving forward. He will also be joining the company's board.

Before acting as interim CEO, Swan was Intel's CFO, a position he has held since 2016.

"In my role as interim CEO, I've developed an even deeper understanding of Intel's opportunities and challenges, our people and our customers," Swan said in a statement announcing the decision. "When I was first named interim CEO, I was immediately focused on running the company and working with our customers. When the board approached me to take on the role permanently, I jumped at the chance to lead this special company. This is an exciting time for Intel: 2018 was an outstanding year and we are in the midst of transforming the company to pursue our biggest market opportunity ever. I'm honored to have the chance to continue working alongside our board, our leadership team, and our more than 107,000 superb employees as we take the company forward."

This story is developing...

Get the latest Intel stock price here.