Intel CEO announces retirement plans 

Intel CEO announces retirement plans

Nov 19, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --The president and CEO of chip maker Intel INTC will retire next year, the company announced today.

Paul Otellini, who has been with Intel for nearly 40 years, will step down as an officer and director at the company's annual stockholders' meeting in May. An orderly leadership transition is planned to take place over the next six months.

Intel said that its board of directors will consider internal and external candidates to become Otellini's successor.

Separately, the company announced that the board has approved the promotion of three senior leaders to the position of executive vice president. They are: Renee James, head of Intel's software business; Brian Krzanich, chief operating officer and head of worldwide manufacturing; and Stacy Smith, chief financial officer and director of corporate strategy.

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