Intel is replacing CEO Bob Swan with VMware CEO Pat Gelsinger
IntelCEO Bob Swanwill be replaced by CEO of VMwarePat Gelsinger, the company said Monday.
- The change will go into effect on February 15 and comes after the chip giant saw a rough year in 2020. Last summer, it announced that production problems would delay its next-generation chips.
- When Swan became CEO in January 2019, some expressed concern over the executive's lack of technical background to helm a company historically led by engineers.
Intel said it is replacing CEO Bob Swan with Pat Gelsinger, the CEO of the software firm VMware, according to a Wednesday news release.
The move will go into effect on February 15."After careful consideration, the board concluded that now is the right time to make this leadership change to draw on Pat's technology and engineering expertise during this critical period of transformation at Intel," Omar Ishrak, independent chairman of the Intel board, said in the press release.
Swan previously served as Intel's CFO since 2016. After Swan became CEO, analysts told Insider that he may not have the technical background to lead the company, which had mostly been helmed by engineers.Read more: The rise of Bob Swan, who went from leading a notorious dot-com bust to becoming the new CEO of Intel Gelsinger was once an Intel executive for 30 years, serving as its first CTO as CNBC notes. He has served as CEO of VMware since 2012.
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